Patton Albertson Miller Group LLC Invests $209,000 in Blackstone Inc. (NYSE:BX)

Patton Albertson Miller Group LLC acquired a new position in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,215 shares of the asset manager’s stock, valued at approximately $209,000.

Several other hedge funds have also modified their holdings of the company. Marshall Wace LLP increased its holdings in shares of Blackstone by 3,074.1% in the 2nd quarter. Marshall Wace LLP now owns 107,064 shares of the asset manager’s stock worth $13,255,000 after buying an additional 103,691 shares during the last quarter. AXA S.A. raised its position in Blackstone by 17.6% during the second quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock valued at $4,305,000 after purchasing an additional 5,214 shares during the period. AQR Capital Management LLC lifted its stake in shares of Blackstone by 123.6% in the 2nd quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock valued at $2,453,000 after purchasing an additional 10,952 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of Blackstone during the 2nd quarter valued at approximately $350,000. Finally, Susquehanna Fundamental Investments LLC boosted its stake in Blackstone by 87.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 78,109 shares of the asset manager’s stock worth $9,670,000 after buying an additional 36,445 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on BX. UBS Group raised their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Bank of America boosted their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $169.56.

Blackstone Trading Up 0.7 %

Shares of NYSE BX opened at $186.79 on Monday. The stock has a market capitalization of $134.86 billion, a P/E ratio of 64.19, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $180.90 and a 200 day moving average price of $160.62. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Insider Transactions at Blackstone

In related 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 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. This represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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.