McKinley Carter Wealth Services Inc. Raises Stake in Blackstone Inc. (NYSE:BX)

McKinley Carter Wealth Services Inc. lifted its position in shares of Blackstone Inc. (NYSE:BX) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,996 shares of the asset manager’s stock after buying an additional 86 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Blackstone were worth $861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BX. Sather Financial Group Inc grew its holdings in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC purchased a new stake in Blackstone in the third quarter valued at approximately $201,000. Aljian Capital Management LLC purchased a new stake in Blackstone in the third quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC grew its holdings in Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Blackstone by 3.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after purchasing an additional 36,343 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BX. Wells Fargo & Company reduced their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group lifted their price target on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group lifted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Barclays reduced their target price 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. Finally, Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $169.56.

Blackstone Stock Up 0.1 %

BX stock opened at $185.73 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm’s 50-day simple moving average is $180.91 and its 200 day simple moving average is $161.67. The stock has a market cap of $134.10 billion, a PE ratio of 63.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Company 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.