Advisory Alpha LLC Raises Position in Blackstone Inc. (NYSE:BX)

Advisory Alpha LLC boosted its stake in Blackstone Inc. (NYSE:BX) by 9.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,035 shares of the asset manager’s stock after buying an additional 346 shares during the quarter. Advisory Alpha LLC’s holdings in Blackstone were worth $696,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the last quarter. The Manufacturers Life Insurance Company grew its position 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 period. Mackenzie Financial Corp increased its holdings in Blackstone by 468.4% during the second quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after buying an additional 912,685 shares during the last quarter. Castleark Management LLC purchased a new position in Blackstone in the third quarter valued at about $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of 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 worth $49,520,000 after purchasing an additional 395,011 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BX has been the subject of several research reports. Barclays reduced their price objective on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Piper Sandler lifted their price objective on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Citigroup increased their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Cowen reiterated 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.com, Blackstone presently has an average rating of “Hold” and an average price target of $169.56.

Blackstone Stock Performance

Blackstone stock opened at $182.70 on Thursday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm’s fifty day moving average price is $180.68 and its 200-day moving average price is $159.55. The stock has a market cap of $131.91 billion, a P/E ratio of 62.78, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the firm’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 transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

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.