BluePath Capital Management LLC Acquires 835 Shares of Blackstone Inc. (NYSE:BX)

BluePath Capital Management LLC boosted its holdings in Blackstone Inc. (NYSE:BX) by 16.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,858 shares of the asset manager’s stock after acquiring an additional 835 shares during the period. BluePath Capital Management LLC’s holdings in Blackstone were worth $971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after buying an additional 348,751 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after acquiring an additional 336,308 shares during the period. Legal & General Group Plc increased its stake in shares of Blackstone by 2.3% during the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after purchasing an additional 141,616 shares during the period. International Assets Investment Management LLC boosted its stake in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Blackstone by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after buying an additional 61,739 shares during the period. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on BX shares. Bank of America raised their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Piper Sandler raised their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets boosted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $169.56.

Blackstone Stock Up 3.4 %

Shares of BX opened at $175.12 on Thursday. The stock has a market capitalization of $126.44 billion, a price-to-earnings ratio of 60.18, a PEG ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 52 week low of $114.88 and a 52 week 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 stock has a fifty day moving average of $180.70 and a 200-day moving average of $157.59.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. As a group, sell-side analysts anticipate that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

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.