Segment Wealth Management LLC Grows Position in Blackstone Inc. (NYSE:BX)

Segment Wealth Management LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 607.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,704 shares of the asset manager’s stock after purchasing an additional 74,444 shares during the period. Segment Wealth Management LLC’s holdings in Blackstone were worth $14,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. West Financial Advisors LLC bought a new stake in shares of Blackstone during the third quarter valued at about $27,000. Bangor Savings Bank increased its holdings in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Blackstone in the 2nd quarter valued at $39,000. Raleigh Capital Management Inc. increased its holdings in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Finally, Kieckhefer Group LLC bought a new stake in Blackstone during the fourth quarter valued at $39,000. 70.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE:BX opened at $180.00 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. Blackstone Inc. has a 12 month low of $115.63 and a 12 month high of $200.96. The company has a 50-day moving average price of $180.73 and a 200-day moving average price of $158.74.

Analyst Ratings Changes

Several analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Piper Sandler lifted their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Barclays lowered their price objective on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley upped their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $169.56.

Blackstone Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.