Patton Albertson Miller Group LLC Buys New Shares in Blackstone Inc. (NYSE:BX)

Patton Albertson Miller Group LLC acquired a new position in Blackstone Inc. (NYSE:BX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,215 shares of the asset manager’s stock, valued at approximately $209,000.

Other large investors have also recently bought and sold shares of the company. Bangor Savings Bank boosted its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $27,000. Berbice Capital Management LLC acquired a new position in shares of Blackstone in the 4th quarter valued at $34,000. Kieckhefer Group LLC acquired a new stake in Blackstone during the fourth quarter valued at $39,000. Finally, Raleigh Capital Management Inc. raised its position in shares of Blackstone by 32.1% in 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 during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone 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 completion of the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Blackstone Stock Performance

Blackstone stock opened at $186.79 on Monday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The stock has a market cap of $134.86 billion, a price-to-earnings ratio of 64.19, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The firm has a 50 day simple moving average of $180.90 and a 200-day simple moving average of $160.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BX. Citigroup upped their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Morgan Stanley lifted their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. BMO Capital Markets upped their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average price target of $169.56.

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.