Berkshire Bank Takes $287,000 Position in Blackstone Inc. (NYSE:BX)

Berkshire Bank purchased a new position in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,662 shares of the asset manager’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also bought and sold shares of BX. Bangor Savings Bank grew its holdings in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the period. West Financial Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $27,000. Berbice Capital Management LLC purchased a new position in shares of Blackstone during the 4th quarter valued at approximately $34,000. Kieckhefer Group LLC purchased a new position in Blackstone during the fourth quarter valued at $39,000. Finally, Raleigh Capital Management Inc. raised 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 worth $39,000 after purchasing an additional 62 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Down 2.2 %

BX stock opened at $182.59 on Tuesday. The stock has a market capitalization of $131.83 billion, a PE ratio of 62.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a fifty day moving average of $180.90 and a 200-day moving average of $160.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Citigroup lifted their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. The Goldman Sachs Group lifted their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, UBS Group lifted their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $169.56.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

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.