Baron Financial Group LLC Purchases Shares of 1,275 Blackstone Inc. (NYSE:BX)

Baron Financial Group LLC bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,275 shares of the asset manager’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. West Financial Advisors LLC acquired a new position in shares of Blackstone in the 3rd quarter worth $27,000. Bangor Savings Bank increased its stake in 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 purchasing an additional 105 shares in the last quarter. Berbice Capital Management LLC purchased a new stake in Blackstone during the fourth quarter valued at about $34,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Blackstone in the second quarter worth approximately $39,000. Finally, Raleigh Capital Management Inc. raised its holdings 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 valued at $39,000 after acquiring an additional 62 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 387,137 shares in the company, 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 the SEC website. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BX. Barclays cut their target price on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note 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 note 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. Morgan Stanley increased their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets boosted their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $169.56.

Blackstone Stock Up 0.7 %

Shares of Blackstone stock opened at $186.79 on Friday. The stock has a 50 day moving average price of $180.90 and a two-hundred day moving average price of $160.35. The company has a quick ratio of 0.71, a current 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 stock has a market capitalization of $134.86 billion, a P/E ratio of 64.19, a PEG 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.