Chesley Taft & Associates LLC Boosts Holdings in Blackstone Inc. (NYSE:BX)

Chesley Taft & Associates LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,829 shares of the asset manager’s stock after purchasing an additional 2,105 shares during the period. Chesley Taft & Associates LLC’s holdings in Blackstone were worth $15,661,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BX. Clear Harbor Asset Management LLC boosted its stake in shares of Blackstone by 16.1% during the fourth quarter. Clear Harbor Asset Management LLC now owns 39,754 shares of the asset manager’s stock valued at $6,854,000 after acquiring an additional 5,525 shares during the last quarter. Segment Wealth Management LLC grew its holdings in shares of Blackstone by 607.2% during the fourth quarter. Segment Wealth Management LLC now owns 86,704 shares of the asset manager’s stock worth $14,950,000 after buying an additional 74,444 shares in the last quarter. Aspiriant LLC lifted its stake in shares of Blackstone by 58.2% during the fourth quarter. Aspiriant LLC now owns 3,861 shares of the asset manager’s stock valued at $666,000 after buying an additional 1,420 shares during the period. ARS Investment Partners LLC grew its stake in Blackstone by 4.8% in the 4th quarter. ARS Investment Partners LLC now owns 100,421 shares of the asset manager’s stock worth $17,315,000 after acquiring an additional 4,642 shares during the period. Finally, Ballentine Partners LLC lifted its stake in shares of Blackstone by 63.4% during the 4th quarter. Ballentine Partners LLC now owns 19,149 shares of the asset manager’s stock worth $3,302,000 after purchasing an additional 7,431 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of several recent analyst reports. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. increased their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley upped their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Piper Sandler lifted their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $169.56.

Blackstone Trading Up 1.9 %

BX 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 firm’s fifty day moving average price is $180.67 and its 200 day moving average price is $159.13. Blackstone Inc. has a 12-month low of $115.63 and a 12-month high of $200.96. The stock has a market capitalization of $129.96 billion, a PE ratio of 61.86, a P/E/G ratio of 1.20 and a beta of 1.53.

Insider Activity at Blackstone

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 value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.