Ibex Wealth Advisors Buys Shares of 41,872 Blackstone Inc. (NYSE:BX)

Ibex Wealth Advisors acquired a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 41,872 shares of the asset manager’s stock, valued at approximately $7,220,000.

A number of other large investors also recently bought and sold shares of BX. Glen Eagle Advisors LLC lifted its position in Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 59 shares during the period. Investmark Advisory Group LLC boosted its stake in shares of Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after buying an additional 60 shares in the last quarter. Raleigh Capital Management Inc. raised its position in 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 acquiring an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its holdings in shares of Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 0.6 %

Shares of BX traded up $1.05 during trading hours on Wednesday, hitting $186.64. The stock had a trading volume of 184,517 shares, compared to its average volume of 2,756,551. The company’s fifty day simple moving average is $180.91 and its 200 day simple moving average is $161.67. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $134.75 billion, a P/E ratio of 64.19, a P/E/G ratio of 1.22 and a beta of 1.53.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of several recent analyst reports. Wells Fargo & Company dropped their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Morgan Stanley lifted 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. 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 research report on Friday, October 18th. BMO Capital Markets increased their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Finally, TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus target price of $169.56.

About Blackstone

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.