Moss Adams Wealth Advisors LLC Increases Holdings in Blackstone Inc. (NYSE:BX)

Moss Adams Wealth Advisors LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,425 shares of the asset manager’s stock after buying an additional 146 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Blackstone were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BX. West Financial Advisors LLC bought a new position in Blackstone in the 3rd quarter worth $27,000. Bangor Savings Bank raised its stake in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Blackstone during the 2nd quarter worth approximately $39,000. Raleigh Capital Management Inc. lifted its stake in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the period. Finally, Kieckhefer Group LLC purchased a new stake in Blackstone in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on BX. Evercore ISI boosted their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company reduced their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, BMO Capital Markets increased their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average target price of $169.56.

Blackstone Price Performance

Shares of BX opened at $180.00 on Friday. The firm has a market cap of $129.96 billion, a PE ratio of 61.86, a P/E/G ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a 1-year low of $115.63 and a 1-year high of $200.96. 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 firm has a fifty day simple moving average of $180.73 and a two-hundred day simple moving average of $158.24.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. On average, equities analysts anticipate that Blackstone Inc. will post 4.45 EPS for the current year.

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.