Ballentine Partners LLC Purchases 7,431 Shares of Blackstone Inc. (NYSE:BX)

Ballentine Partners LLC raised its position in Blackstone Inc. (NYSE:BX) by 63.4% in the fourth quarter, HoldingsChannel reports. The fund owned 19,149 shares of the asset manager’s stock after purchasing an additional 7,431 shares during the quarter. Ballentine Partners LLC’s holdings in Blackstone were worth $3,302,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BX. Regent Peak Wealth Advisors LLC lifted its stake in shares of Blackstone by 5.6% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 1,861 shares of the asset manager’s stock valued at $321,000 after buying an additional 99 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in Blackstone by 1.5% in the 4th quarter. Harbor Investment Advisory LLC now owns 39,014 shares of the asset manager’s stock valued at $6,727,000 after acquiring an additional 587 shares in the last quarter. Zhang Financial LLC increased its holdings in Blackstone by 1.8% during the 4th quarter. Zhang Financial LLC now owns 9,567 shares of the asset manager’s stock worth $1,650,000 after purchasing an additional 171 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Blackstone by 13.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,806 shares of the asset manager’s stock valued at $829,000 after purchasing an additional 586 shares in the last quarter. Finally, Guinness Asset Management LTD grew its holdings in Blackstone by 41.0% during the fourth quarter. Guinness Asset Management LTD now owns 4,887 shares of the asset manager’s stock worth $843,000 after buying an additional 1,422 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Up 1.9 %

Shares of NYSE BX opened at $180.00 on Tuesday. Blackstone Inc. has a 52 week low of $115.63 and a 52 week high of $200.96. The company has a market cap of $129.96 billion, a P/E ratio of 61.86, a P/E/G ratio of 1.02 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The business has a 50-day simple moving average of $180.73 and a two-hundred day simple moving average of $158.74.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler lifted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods decreased their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company cut their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, Evercore ISI raised their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Twelve equities 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, Blackstone presently has a consensus rating of “Hold” and an average price target of $169.56.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the business’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

About Blackstone

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.