Grange Capital LLC Buys Shares of 50,787 Blackstone Inc. (NYSE:BX)

Grange Capital LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 50,787 shares of the asset manager’s stock, valued at approximately $8,757,000. Blackstone comprises approximately 9.2% of Grange Capital LLC’s holdings, making the stock its 2nd largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sather Financial Group Inc boosted its position in shares of Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC bought a new position in shares of Blackstone in the third quarter worth approximately $201,000. Aljian Capital Management LLC bought a new position in shares of Blackstone in the third quarter worth approximately $1,951,000. Icon Wealth Advisors LLC boosted its position in shares of Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Blackstone by 3.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after purchasing an additional 36,343 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BX shares. Wells Fargo & Company dropped their target price 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. The Goldman Sachs Group upped their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock 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 research report on Tuesday. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Finally, Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $169.56.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.7 %

Shares of BX opened at $186.79 on Friday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a market cap 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 current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $180.90 and its 200-day simple moving average is $160.35.

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.