First Citizens Bank & Trust Co. Buys 187 Shares of Blackstone Inc. (NYSE:BX)

First Citizens Bank & Trust Co. lifted its position in shares of Blackstone Inc. (NYSE:BX) by 12.6% in the fourth quarter, HoldingsChannel reports. The fund owned 1,671 shares of the asset manager’s stock after buying an additional 187 shares during the period. First Citizens Bank & Trust Co.’s holdings in Blackstone were worth $288,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC grew its holdings in Blackstone by 0.3% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 277,566 shares of the asset manager’s stock worth $47,858,000 after acquiring an additional 734 shares during the period. Patton Albertson Miller Group LLC acquired a new stake in shares of Blackstone during the fourth quarter worth $209,000. Grange Capital LLC acquired a new position in Blackstone in the fourth quarter valued at about $8,757,000. Linden Thomas Advisory Services LLC grew its holdings in shares of Blackstone by 4.6% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 15,965 shares of the asset manager’s stock valued at $2,753,000 after buying an additional 699 shares during the period. Finally, Aspiring Ventures LLC acquired a new stake in Blackstone during the 4th quarter worth $215,000. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BX. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Evercore ISI boosted their price target 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. BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. The Goldman Sachs Group boosted their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday, January 21st. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $169.56.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred 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 sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Blackstone Trading Up 1.8 %

Shares of BX stock opened at $185.73 on Wednesday. The stock has a 50 day simple moving average of $180.89 and a 200 day simple moving average of $161.27. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $134.10 billion, a P/E ratio of 63.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53.

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.