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

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,228 shares of the asset manager’s stock after acquiring an additional 505 shares during the quarter. 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.

A number of other institutional investors have also recently bought and sold shares of the business. AXA S.A. increased its stake in Blackstone by 17.6% during the 2nd quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock worth $4,305,000 after acquiring an additional 5,214 shares during the period. AQR Capital Management LLC increased its position in shares of Blackstone by 123.6% in the second quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock worth $2,453,000 after purchasing an additional 10,952 shares during the period. Ascent Group LLC lifted its position in Blackstone by 55.0% during the second quarter. Ascent Group LLC now owns 7,843 shares of the asset manager’s stock worth $971,000 after purchasing an additional 2,784 shares during the period. Creative Planning increased its holdings in Blackstone by 1.4% in the 2nd quarter. Creative Planning now owns 228,268 shares of the asset manager’s stock valued at $28,260,000 after buying an additional 3,120 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Blackstone by 19.0% during the 2nd quarter. NewEdge Advisors LLC now owns 102,804 shares of the asset manager’s stock worth $12,727,000 after acquiring an additional 16,400 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $182.59 on Tuesday. Blackstone Inc. has a 12 month low of $115.82 and a 12 month 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 stock has a market cap of $131.83 billion, a P/E ratio of 62.75, a P/E/G ratio of 1.22 and a beta of 1.53. The company has a 50 day moving average of $180.90 and a 200 day moving average of $160.88.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI raised their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Bank of America raised their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Citigroup increased their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $169.56.

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.