Nisa Investment Advisors LLC Boosts Stake in Blackstone Inc. (NYSE:BX)

Nisa Investment Advisors LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,116 shares of the asset manager’s stock after buying an additional 15,755 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Blackstone were worth $23,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Simon Quick Advisors LLC grew its position in Blackstone by 7.0% during the fourth quarter. Simon Quick Advisors LLC now owns 5,345 shares of the asset manager’s stock worth $922,000 after buying an additional 349 shares in the last quarter. Red Spruce Capital LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $409,000. Sheets Smith Wealth Management boosted its holdings in shares of Blackstone by 2.8% in the 4th quarter. Sheets Smith Wealth Management now owns 7,314 shares of the asset manager’s stock worth $1,261,000 after purchasing an additional 200 shares in the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $880,000. Finally, Perfromance Wealth Partners LLC boosted its holdings in shares of Blackstone by 238.8% in the 4th quarter. Perfromance Wealth Partners LLC now owns 29,875 shares of the asset manager’s stock worth $5,151,000 after purchasing an additional 21,057 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Up 0.6 %

Shares of NYSE:BX opened at $182.70 on Thursday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The firm has a market capitalization of $131.91 billion, a P/E ratio of 62.78, a P/E/G ratio of 1.20 and a beta of 1.53. The stock has a 50 day moving average price of $180.68 and a 200-day moving average price of $159.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BX. Barclays cut their price objective on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group increased their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Piper Sandler increased their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $169.56.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on 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 $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone 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.