Sumitomo Life Insurance Co. Buys New Holdings in Blackstone Inc. (NYSE:BX)

Sumitomo Life Insurance Co. acquired a new stake in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 57,900 shares of the asset manager’s stock, valued at approximately $9,983,000.

Several other institutional investors have also recently made changes to their positions in BX. Bangor Savings Bank lifted its holdings in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the period. West Financial Advisors LLC acquired a new position in Blackstone in the third quarter valued at approximately $27,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $34,000. Kieckhefer Group LLC acquired a new position in shares of Blackstone in the 4th quarter valued at $39,000. Finally, Raleigh Capital Management Inc. grew its position in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of a number of analyst reports. Wells Fargo & Company dropped their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays reduced their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Citigroup boosted their price target on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $169.56.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction 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 transaction, the insider now 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 document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Up 1.8 %

NYSE BX opened at $185.73 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The business’s fifty day simple moving average is $180.89 and its 200-day simple moving average is $161.27. The firm has a market cap of $134.10 billion, a PE ratio of 63.83, a P/E/G ratio of 1.22 and a beta of 1.53.

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.