ARS Investment Partners LLC Buys 4,642 Shares of Blackstone Inc. (NYSE:BX)

ARS Investment Partners LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,421 shares of the asset manager’s stock after purchasing an additional 4,642 shares during the period. Blackstone makes up 1.6% of ARS Investment Partners LLC’s investment portfolio, making the stock its 21st largest holding. ARS Investment Partners LLC’s holdings in Blackstone were worth $17,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in shares of Blackstone by 15,357.3% during the third 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 purchasing an additional 4,173,971 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Blackstone by 213.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after buying an additional 937,084 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Blackstone by 468.4% in the second quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after acquiring an additional 912,685 shares during the last quarter. Castleark Management LLC purchased a new position in shares of Blackstone in the 3rd quarter worth about $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Blackstone by 7,917.6% during 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 purchasing an additional 395,011 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Trading Up 1.9 %

Shares of Blackstone stock opened at $180.00 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a twelve month low of $115.63 and a twelve month high of $200.96. The business has a 50-day moving average price of $180.73 and a 200-day moving average price of $158.74.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Bank of America increased their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Morgan Stanley lifted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $169.56.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.