First Citizens Bank & Trust Co. Has $288,000 Stake in Blackstone Inc. (NYSE:BX)

First Citizens Bank & Trust Co. raised its stake in Blackstone Inc. (NYSE:BX) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,671 shares of the asset manager’s stock after buying an additional 187 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Blackstone were worth $288,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC increased its position in Blackstone by 123.6% in the 2nd quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock worth $2,453,000 after purchasing an additional 10,952 shares during the last quarter. Ascent Group LLC raised its position in Blackstone by 55.0% during the second quarter. Ascent Group LLC now owns 7,843 shares of the asset manager’s stock valued at $971,000 after acquiring an additional 2,784 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Blackstone by 5.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 118,888 shares of the asset manager’s stock worth $14,718,000 after acquiring an additional 5,825 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Blackstone by 3.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 6,673 shares of the asset manager’s stock valued at $826,000 after purchasing an additional 214 shares in the last quarter. Finally, Quarry LP bought a new stake in Blackstone in the second quarter worth $95,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Up 1.8 %

Shares of NYSE BX opened at $185.73 on Wednesday. The business has a fifty day moving average of $180.89 and a two-hundred day moving average of $161.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The stock has a market cap of $134.10 billion, a PE ratio of 63.83, a PEG ratio of 1.22 and a beta of 1.53.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BX. JPMorgan Chase & Co. upped their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Evercore ISI raised their target price 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. Morgan Stanley upped their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Barclays decreased their target price on 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.