Blackstone Inc. (NYSE:BX) Stake Boosted by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lifted its position in Blackstone Inc. (NYSE:BX) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,768 shares of the asset manager’s stock after acquiring an additional 943 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Blackstone were worth $2,374,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. West Financial Advisors LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at about $27,000. Bangor Savings Bank increased its stake in 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. Strategic Investment Solutions Inc. IL purchased a new position in shares of Blackstone during the 2nd quarter valued at $39,000. Raleigh Capital Management Inc. raised its holdings in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new position in Blackstone in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $182.70 on Thursday. The company has a market capitalization of $131.91 billion, a P/E ratio of 62.78, a P/E/G ratio of 1.21 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The stock has a 50 day moving average of $180.71 and a two-hundred day moving average of $159.71.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on BX shares. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group raised their price target on shares of Blackstone from $135.00 to $150.00 and gave the company 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 increased their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. BMO Capital Markets upped their price target on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Finally, Bank of America boosted 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.