Howard Capital Management Group LLC Has $50.90 Million Stake in Blackstone Inc. (NYSE:BX)

Howard Capital Management Group LLC reduced its stake in Blackstone Inc. (NYSE:BX) by 1.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 295,219 shares of the asset manager’s stock after selling 3,505 shares during the quarter. Blackstone makes up 3.5% of Howard Capital Management Group LLC’s investment portfolio, making the stock its 8th biggest position. Howard Capital Management Group LLC’s holdings in Blackstone were worth $50,902,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Blackstone by 15,357.3% in 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 buying an additional 4,173,971 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Blackstone by 213.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after acquiring an additional 937,084 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Blackstone by 468.4% during the 2nd quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after purchasing an additional 912,685 shares during the last quarter. Castleark Management LLC purchased a new position in Blackstone in the third quarter valued at about $67,472,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of 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 valued at $49,520,000 after buying an additional 395,011 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Price Performance

NYSE:BX opened at $181.52 on Wednesday. The firm’s fifty day moving average is $180.67 and its two-hundred day moving average is $159.13. The firm has a market cap of $131.06 billion, a price-to-earnings ratio of 62.38, a PEG ratio of 1.20 and a beta of 1.53. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on BX shares. Citigroup boosted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $169.56.

Blackstone 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.