Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.42 Million Stake in Blackstone Inc. (NYSE:BX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,228 shares of the asset manager’s stock after acquiring an additional 505 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Blackstone were worth $1,419,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Sather Financial Group Inc grew its position in shares of Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after buying an additional 4,050 shares during the period. Portside Wealth Group LLC acquired a new stake in Blackstone in the third quarter worth $201,000. Aljian Capital Management LLC bought a new position in shares of Blackstone during the third quarter worth $1,951,000. Icon Wealth Advisors LLC increased its position in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after buying an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Blackstone by 3.2% during 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 acquiring an additional 36,343 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. TD Cowen upgraded 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. Morgan Stanley boosted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company decreased their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average target price of $169.56.

Blackstone Stock Down 2.2 %

Shares of BX stock opened at $182.59 on Tuesday. The firm’s 50-day moving average is $180.90 and its 200-day moving average is $160.88. The stock has a market cap of $131.83 billion, a price-to-earnings ratio of 62.75, a PEG ratio of 1.22 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96.

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.