Morse Asset Management Inc increased its stake in Blackstone Inc. (NYSE:BX - Free Report) by 11.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,447 shares of the asset manager's stock after acquiring an additional 1,716 shares during the period. Morse Asset Management Inc's holdings in Blackstone were worth $2,299,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC increased its position in shares of Blackstone by 25.2% during the first quarter. Cassaday & Co Wealth Management LLC now owns 4,654 shares of the asset manager's stock worth $651,000 after acquiring an additional 936 shares in the last quarter. Calton & Associates Inc. acquired a new position in shares of Blackstone during the 1st quarter valued at $7,511,000. Kestra Private Wealth Services LLC raised its holdings in shares of Blackstone by 6.2% in the first quarter. Kestra Private Wealth Services LLC now owns 62,042 shares of the asset manager's stock valued at $8,672,000 after purchasing an additional 3,623 shares during the last quarter. FAS Wealth Partners Inc. boosted its position in shares of Blackstone by 4.1% in the first quarter. FAS Wealth Partners Inc. now owns 21,236 shares of the asset manager's stock valued at $2,968,000 after acquiring an additional 831 shares during the period. Finally, Private Advisor Group LLC raised its stake in shares of Blackstone by 3.4% during the first quarter. Private Advisor Group LLC now owns 225,529 shares of the asset manager's stock worth $31,525,000 after acquiring an additional 7,480 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.
Wall Street Analyst Weigh In
BX has been the topic of a number of recent analyst reports. Citigroup reiterated a "market perform" rating on shares of Blackstone in a research note on Saturday. Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods dropped 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. Barclays reaffirmed an "equal weight" rating on shares of Blackstone in a report on Thursday, July 10th. Finally, Evercore ISI boosted their price target on Blackstone from $152.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $162.18.
Get Our Latest Analysis on BX
Insider Transactions at Blackstone
In related news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider owned 475,336 shares of the company's stock, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ruth Porat acquired 237 shares of the stock in a transaction on Monday, May 5th. The stock was bought at an average price of $136.33 per share, with a total value of $32,310.21. Following the completion of the acquisition, the director directly owned 37,067 shares of the company's stock, valued at $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,849,769 shares of company stock valued at $54,932,307. 1.00% of the stock is currently owned by corporate insiders.
Blackstone Price Performance
Shares of BX traded up $2.99 during trading hours on Tuesday, reaching $169.68. The stock had a trading volume of 2,007,545 shares, compared to its average volume of 3,845,690. 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 company's 50-day moving average is $146.60 and its two-hundred day moving average is $150.39. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The stock has a market capitalization of $123.81 billion, a PE ratio of 51.13, a PEG ratio of 1.52 and a beta of 1.65.
Blackstone Company Profile
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Free Report)
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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