Ibex Wealth Advisors Invests $7.22 Million in Blackstone Inc. (NYSE:BX)

Ibex Wealth Advisors purchased a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 41,872 shares of the asset manager's stock, valued at approximately $7,220,000.

Other institutional investors have also added to or reduced their stakes in the company. Sather Financial Group Inc boosted its holdings in shares of Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager's stock worth $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC bought a new position in Blackstone in the third quarter worth about $201,000. Aljian Capital Management LLC bought a new position in Blackstone in the third quarter worth about $1,951,000. Icon Wealth Advisors LLC raised its stake 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 worth $2,901,000 after buying an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake 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 worth $179,089,000 after buying an additional 36,343 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BX shares. Morgan Stanley increased their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Barclays dropped their price target on shares of Blackstone from $199.00 to $192.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. Cowen reiterated a "hold" rating on shares of Blackstone in a research note on Friday, October 18th. Citigroup lifted their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company lowered their target price on shares of Blackstone from $195.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and a consensus target price of $169.56.

Blackstone Price Performance

Shares of Blackstone stock traded down $7.60 during trading hours on Thursday, reaching $177.78. The company's stock had a trading volume of 5,634,729 shares, compared to its average volume of 3,064,606. The firm has a 50 day moving average price of $180.92 and a 200-day moving average price of $161.84. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $128.35 billion, a P/E ratio of 61.09, a P/E/G ratio of 1.22 and a beta of 1.53.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, analysts predict that Blackstone Inc. will post 4.45 EPS for the current year.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business's 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 sale, the insider now directly owns 387,137 shares of the company's stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

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.