Cathy Pareto & Associates Inc. Takes Position in Blackstone Inc. (NYSE:BX)

Cathy Pareto & Associates Inc. purchased a new stake in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,589 shares of the asset manager’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BX. West Financial Advisors LLC purchased a new position in Blackstone during the third quarter worth about $27,000. Bangor Savings Bank boosted its stake in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at approximately $34,000. Strategic Investment Solutions Inc. IL purchased a new position in Blackstone in the second quarter worth $39,000. Finally, Raleigh Capital Management Inc. increased its position in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. The Goldman Sachs Group increased their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. UBS Group upped their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Barclays lowered their price objective on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $169.56.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

Shares of NYSE BX opened at $186.79 on Monday. The firm has a market capitalization of $134.86 billion, a P/E ratio of 64.19, a P/E/G ratio of 1.22 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 stock’s 50-day simple moving average is $180.90 and its two-hundred day simple moving average is $160.62. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96.

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.