Red Spruce Capital LLC Makes New $409,000 Investment in Blackstone Inc. (NYSE:BX)

Red Spruce Capital LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,371 shares of the asset manager’s stock, valued at approximately $409,000.

A number of other institutional investors have also recently added to or reduced their stakes in BX. West Financial Advisors LLC purchased a new stake in Blackstone during the 3rd quarter worth approximately $27,000. Bangor Savings Bank increased its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Blackstone during the 2nd quarter valued at $39,000. Raleigh Capital Management Inc. increased its position in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new position in Blackstone in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BX shares. Wells Fargo & Company reduced their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Bank of America boosted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Barclays decreased their target price on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lowered their price target 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. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $169.56.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’s 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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.

Blackstone Trading Up 0.9 %

Shares of NYSE:BX opened at $181.52 on Wednesday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a 50 day moving average price of $180.67 and a 200 day moving average price of $159.13. The stock has a market capitalization of $131.06 billion, a price-to-earnings ratio of 62.38, a PEG ratio of 1.20 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current 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.