Red Spruce Capital LLC Makes New $409,000 Investment in Blackstone Inc. (NYSE:BX)

Red Spruce Capital LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,371 shares of the asset manager’s stock, valued at approximately $409,000.

Other hedge funds also recently bought and sold shares of the company. Glen Eagle Advisors LLC boosted its holdings in shares of Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after buying an additional 59 shares in the last quarter. Investmark Advisory Group LLC grew its stake in Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after buying an additional 60 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Up 0.9 %

Shares of NYSE:BX opened at $181.52 on Wednesday. The stock’s 50-day moving average price is $180.67 and its two-hundred day moving average price is $159.13. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The firm has a market cap of $131.06 billion, a price-to-earnings ratio of 62.38, a PEG ratio of 1.20 and a beta of 1.53.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value 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 represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Citigroup upped their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. 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 report on Friday, October 18th. Bank of America increased their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company decreased their price target 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. 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 a consensus 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.