Beacon Investment Advisory Services Inc. Increases Stake in Blackstone Inc. (NYSE:BX)

Beacon Investment Advisory Services Inc. boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,768 shares of the asset manager’s stock after purchasing an additional 943 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Blackstone were worth $2,374,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Blackstone by 1.2% in the third 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 grew its stake 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 valued at $2,272,227,000 after acquiring an additional 336,308 shares in the last quarter. Legal & General Group Plc grew its position 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 buying an additional 141,616 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Blackstone by 15,357.3% in the third 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 acquiring an additional 4,173,971 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings 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 acquiring an additional 61,739 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on BX. Evercore ISI lifted their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley boosted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays decreased their price objective on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Bank of America increased their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $169.56.

Blackstone Stock Performance

BX stock opened at $182.70 on Thursday. The company has a market capitalization of $131.91 billion, a P/E ratio of 62.78, a PEG ratio of 1.21 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $180.71 and a 200 day simple moving average of $159.71. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of Blackstone 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.