New England Research & Management Inc. Invests $974,000 in Blackstone Inc. (NYSE:BX)

New England Research & Management Inc. purchased a new position in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,650 shares of the asset manager’s stock, valued at approximately $974,000.

A number of other large investors also recently made changes to their positions in BX. Glen Eagle Advisors LLC grew its position in shares of Blackstone by 1.8% during the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC grew its stake in shares of Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after purchasing an additional 60 shares in the last quarter. Raleigh Capital Management Inc. raised its position in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Blackstone by 2.3% in the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after acquiring an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its position in shares of Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets boosted their price target on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. The Goldman Sachs Group increased their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group boosted their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $169.56.

Blackstone Price Performance

Shares of Blackstone stock opened at $185.73 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50-day simple moving average is $180.91 and its 200-day simple moving average is $161.67. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The firm has a market cap of $134.10 billion, a P/E ratio of 63.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Blackstone Company 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.