Union Bancaire Privee UBP SA Purchases New Shares in Blackstone Inc. (NYSE:BX)

Union Bancaire Privee UBP SA acquired a new stake in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,850 shares of the asset manager’s stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BX. International Assets Investment Management LLC raised its holdings in Blackstone by 15,357.3% in the 3rd 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. Castleark Management LLC acquired a new position in Blackstone in the 3rd quarter valued at $67,472,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Blackstone by 7,917.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock valued at $49,520,000 after acquiring an additional 395,011 shares in the last quarter. State Street Corp raised its holdings in shares of Blackstone by 1.2% during the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after buying an additional 336,308 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Up 1.8 %

Shares of Blackstone stock opened at $185.73 on Wednesday. Blackstone Inc. has a one year low of $115.82 and a one year 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’s 50-day moving average is $180.89 and its 200 day moving average is $161.27. The firm has a market cap of $134.10 billion, a price-to-earnings ratio of 63.83, a PEG ratio of 1.22 and a beta of 1.53.

Analyst Upgrades and Downgrades

BX has been the subject of a number of research analyst reports. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Morgan Stanley boosted their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $169.56.

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.