Capital Planning Advisors LLC Increases Stake in Blackstone Inc. (NYSE:BX)

Capital Planning Advisors LLC increased its stake in shares of Blackstone Inc. (NYSE:BX) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,683 shares of the asset manager’s stock after acquiring an additional 1,801 shares during the quarter. Capital Planning Advisors LLC’s holdings in Blackstone were worth $5,290,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. AE Wealth Management LLC raised its position in Blackstone by 100.5% in the second quarter. AE Wealth Management LLC now owns 10,119 shares of the asset manager’s stock valued at $1,253,000 after purchasing an additional 5,072 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Blackstone by 2.4% during the second quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock valued at $5,524,000 after acquiring an additional 1,036 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Blackstone by 3,074.1% during the 2nd quarter. Marshall Wace LLP now owns 107,064 shares of the asset manager’s stock worth $13,255,000 after purchasing an additional 103,691 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Blackstone by 60.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 136,896 shares of the asset manager’s stock valued at $16,948,000 after buying an additional 51,795 shares during the period. Finally, Insigneo Advisory Services LLC grew its position in Blackstone by 4.4% in the 2nd quarter. Insigneo Advisory Services LLC now owns 34,174 shares of the asset manager’s stock valued at $4,426,000 after acquiring an additional 1,453 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BX shares. Wells Fargo & Company cut their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. The Goldman Sachs Group raised their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Evercore ISI raised their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Twelve investment 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, Blackstone currently has a consensus rating of “Hold” and an average price target of $169.56.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on 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 sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $182.70 on Thursday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month 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 business’s 50 day moving average is $180.71 and its two-hundred day moving average is $159.71. The stock has a market capitalization of $131.91 billion, a price-to-earnings ratio of 62.78, a PEG ratio of 1.21 and a beta of 1.53.

Blackstone Company 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.