Blue Trust Inc. Grows Position in Blackstone Inc. (NYSE:BX)

Blue Trust Inc. grew its stake in shares of Blackstone Inc. (NYSE:BX) by 84.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,364 shares of the asset manager’s stock after buying an additional 3,379 shares during the period. Blue Trust Inc.’s holdings in Blackstone were worth $1,270,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Cathy Pareto & Associates Inc. purchased a new position in Blackstone during the fourth quarter worth $274,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Blackstone by 6.5% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,228 shares of the asset manager’s stock valued at $1,419,000 after purchasing an additional 505 shares during the period. Regatta Capital Group LLC grew its position in shares of Blackstone by 4.0% in the fourth quarter. Regatta Capital Group LLC now owns 4,196 shares of the asset manager’s stock valued at $724,000 after purchasing an additional 160 shares during the period. Embree Financial Group grew its position in shares of Blackstone by 0.3% in the fourth quarter. Embree Financial Group now owns 61,463 shares of the asset manager’s stock valued at $10,597,000 after purchasing an additional 168 shares during the period. Finally, Baron Financial Group LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at $220,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on 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 in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BX shares. Morgan Stanley lifted their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Bank of America boosted their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group boosted their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company reduced their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $169.56.

Blackstone Stock Up 1.8 %

BX opened at $185.73 on Wednesday. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. 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 stock has a market cap of $134.10 billion, a P/E ratio of 63.83, a P/E/G ratio of 1.22 and a beta of 1.53. The stock’s 50 day moving average price is $180.89 and its 200 day moving average price is $161.27.

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.