Blackstone Inc. (NYSE:BX) Stake Boosted by Choreo LLC

Choreo LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,109 shares of the asset manager's stock after acquiring an additional 4,130 shares during the quarter. Choreo LLC's holdings in Blackstone were worth $18,885,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $974,448,000. Capital Research Global Investors bought a new position in shares of Blackstone during the fourth quarter worth about $239,837,000. GAMMA Investing LLC boosted its position in Blackstone by 14,608.6% during the first quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager's stock valued at $184,873,000 after purchasing an additional 1,313,606 shares during the last quarter. FMR LLC boosted its position in Blackstone by 38.8% during the fourth quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock valued at $515,577,000 after purchasing an additional 835,170 shares during the last quarter. Finally, Axiom Investors LLC DE boosted its stake in shares of Blackstone by 61.2% during the 4th quarter. Axiom Investors LLC DE now owns 1,984,892 shares of the asset manager's stock worth $342,235,000 after acquiring an additional 753,766 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

NYSE BX traded up $1.03 during trading hours on Tuesday, hitting $167.72. The company had a trading volume of 602,930 shares, compared to its average volume of 3,840,166. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm has a market capitalization of $122.38 billion, a price-to-earnings ratio of 50.54, a PEG ratio of 1.52 and a beta of 1.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50 day simple moving average of $146.60 and a 200 day simple moving average of $150.39.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider directly owned 475,336 shares of the company's stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ruth Porat purchased 237 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was acquired at an average price of $136.33 per share, with a total value of $32,310.21. Following the purchase, the director directly owned 37,067 shares of the company's stock, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,849,769 shares of company stock valued at $54,932,307 over the last quarter. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BX. Cowen reissued a "buy" rating on shares of Blackstone in a report on Monday, April 21st. JMP Securities raised their price objective on Blackstone from $165.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Bank of America decreased their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Keefe, Bruyette & Woods decreased their price target on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Piper Sandler reiterated a "neutral" rating on shares of Blackstone in a research note on Thursday, July 10th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Blackstone currently has a consensus rating of "Hold" and an average target price of $162.18.

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.

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