Webster Bank N. A. Has $49,000 Stock Position in Blackstone Inc. (NYSE:BX)

Webster Bank N. A. grew its holdings in Blackstone Inc. (NYSE:BX) by 50.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282 shares of the asset manager’s stock after buying an additional 94 shares during the period. Webster Bank N. A.’s holdings in Blackstone were worth $49,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. 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 worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Castleark Management LLC acquired a new stake in shares of Blackstone during the third quarter worth $67,472,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Blackstone by 7,917.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after acquiring an additional 395,011 shares during the period. State Street Corp boosted its holdings in Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after purchasing an additional 348,751 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on BX shares. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Bank of America lifted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group raised their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Price Performance

BX stock opened at $182.59 on Tuesday. The company has a market capitalization of $131.83 billion, a P/E ratio of 62.75, a PEG ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a fifty day moving average price of $180.90 and a 200-day moving average price of $160.88. 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 Blackstone stock in a transaction 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 transaction, the insider now owns 387,137 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

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.