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

Ballentine Partners LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 63.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in shares of Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after buying an additional 348,751 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 acquiring an additional 336,308 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Blackstone by 2.3% in the second 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 last quarter. International Assets Investment Management LLC boosted its holdings in Blackstone by 15,357.3% during 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 purchasing an additional 4,173,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Blackstone by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after buying an additional 61,739 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

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

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. 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.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays reduced their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Evercore ISI boosted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.