Morse Asset Management Inc Grows Stake in Blackstone Inc. (NYSE:BX)

Morse Asset Management Inc grew its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 11.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,447 shares of the asset manager's stock after purchasing an additional 1,716 shares during the period. Morse Asset Management Inc's holdings in Blackstone were worth $2,299,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BX. Vanguard Group Inc. raised its stake in Blackstone by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after acquiring an additional 889,286 shares during the period. Geode Capital Management LLC raised its stake in shares of Blackstone by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock valued at $2,637,266,000 after purchasing an additional 444,887 shares during the period. Northern Trust Corp increased its stake in Blackstone by 10.8% in the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock worth $1,209,707,000 after acquiring an additional 681,512 shares during the last quarter. Invesco Ltd. boosted its holdings in Blackstone by 6.6% during the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock valued at $1,032,400,000 after acquiring an additional 371,677 shares during the period. Finally, Norges Bank bought a new position in Blackstone during the 4th quarter valued at approximately $974,448,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Performance

Shares of Blackstone stock traded up $1.93 during trading on Wednesday, hitting $171.31. 1,040,312 shares of the company's stock traded hands, compared to its average volume of 3,839,603. The stock has a market capitalization of $125.00 billion, a P/E ratio of 51.48, a PEG ratio of 1.50 and a beta of 1.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75. The business has a 50-day simple moving average of $146.60 and a 200-day simple moving average of $150.39. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Wall Street Analyst Weigh In

BX has been the subject of a number of analyst reports. JMP Securities upped their target price on Blackstone from $165.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. TD Cowen cut their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Barclays reaffirmed an "equal weight" rating on shares of Blackstone in a research note on Thursday, July 10th. Wells Fargo & Company lifted their price target on shares of Blackstone from $153.00 to $167.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, Morgan Stanley cut their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has an average rating of "Hold" and an average price target of $162.18.

Insiders Place Their Bets

In other news, insider John G. Finley sold 25,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 475,336 shares of the company's stock, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was purchased at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the transaction, the insider owned 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,849,769 shares of company stock worth $54,932,307 in the last 90 days. 1.00% of the stock is owned by insiders.

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.