Blackstone Inc. (NYSE:BX) Shares Purchased by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC grew its stake in Blackstone Inc. (NYSE:BX) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 39,014 shares of the asset manager’s stock after purchasing an additional 587 shares during the period. Harbor Investment Advisory LLC’s holdings in Blackstone were worth $6,727,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in Blackstone by 1.2% during the third 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 last quarter. Geode Capital Management LLC raised its position in shares of Blackstone by 2.3% during the 3rd 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. Legal & General Group Plc boosted its position in Blackstone by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after purchasing an additional 141,616 shares during the period. International Assets Investment Management LLC increased its position 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 during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Blackstone by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after acquiring an additional 61,739 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BX. Piper Sandler lifted their price objective 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. 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 research report on Friday, October 18th. Evercore ISI lifted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup increased their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Barclays reduced their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price of $169.56.

Blackstone Stock Performance

Blackstone stock opened at $180.00 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $129.96 billion, a P/E ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. Blackstone Inc. has a fifty-two week low of $115.63 and a fifty-two week high of $200.96. The firm’s 50 day simple moving average is $180.73 and its 200-day simple moving average is $158.74.

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.