MassMutual Private Wealth & Trust FSB Buys 586 Shares of Blackstone Inc. (NYSE:BX)

MassMutual Private Wealth & Trust FSB boosted its stake in Blackstone Inc. (NYSE:BX) by 13.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,806 shares of the asset manager’s stock after acquiring an additional 586 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Blackstone were worth $829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sather Financial Group Inc grew its holdings in Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after acquiring an additional 4,050 shares during the last quarter. Portside Wealth Group LLC bought a new position in Blackstone during the 3rd quarter worth $201,000. Aljian Capital Management LLC acquired a new position in Blackstone during the 3rd quarter worth about $1,951,000. Icon Wealth Advisors LLC increased its stake 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 valued at $2,901,000 after buying an additional 18,117 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake 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 acquiring an additional 36,343 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Morgan Stanley increased their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, Citigroup lifted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $169.56.

Blackstone Price Performance

BX stock opened at $181.52 on Wednesday. The company has a market capitalization of $131.06 billion, a P/E ratio of 62.38, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The business has a 50-day simple moving average of $180.67 and a two-hundred day simple moving average of $159.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Insider Buying and Selling

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 value of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Blackstone 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.