By otakuyassine3@gmail.com 
Missouri Trust & Investment Co raised its position in shares of Blackstone Inc. (NYSE:BX – Free Report) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,920 shares of the asset manager’s stock after buying an additional 437 shares during the quarter. Blackstone comprises 0.7% of Missouri Trust & Investment Co’s portfolio, making the stock its 28th biggest holding. Missouri Trust & Investment Co’s holdings in Blackstone were worth $2,055,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. boosted its stake in Blackstone by 3.5% in the second quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock valued at $7,277,000 after acquiring an additional 2,002 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of Blackstone by 100.5% in the 2nd 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 in the last quarter. Pacer Advisors Inc. lifted its stake in Blackstone by 4.5% in the 2nd quarter. Pacer Advisors Inc. now owns 50,996 shares of the asset manager’s stock valued at $6,313,000 after buying an additional 2,206 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Blackstone by 2.4% during the 2nd 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 in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Blackstone by 3.8% during the 2nd quarter. ProShare Advisors LLC now owns 160,486 shares of the asset manager’s stock worth $19,868,000 after acquiring an additional 5,854 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Blackstone 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 value of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on BX. Wells Fargo & Company reduced their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America boosted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $169.56.
Check Out Our Latest Stock Analysis on BX
Blackstone Stock Performance
Shares of BX opened at $181.52 on Wednesday. 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 $131.06 billion, a P/E ratio of 62.38, a P/E/G ratio of 1.20 and a beta of 1.53. The firm’s 50 day moving average is $180.67 and its 200-day moving average is $159.13. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.
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.
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