Cathy Pareto & Associates Inc. Invests $274,000 in Blackstone Inc. (NYSE:BX)

Cathy Pareto & Associates Inc. purchased a new position in Blackstone Inc. (NYSE:BX) during the fourth quarter, Holdings Channel reports. The fund purchased 1,589 shares of the asset manager’s stock, valued at approximately $274,000.

Other institutional investors have also recently made changes to their positions in the company. West Financial Advisors LLC bought a new stake in Blackstone in the 3rd quarter worth $27,000. Bangor Savings Bank grew 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 purchasing an additional 105 shares during the last quarter. Berbice Capital Management LLC purchased a new position in Blackstone during the 4th quarter valued at about $34,000. Strategic Investment Solutions Inc. IL purchased a new stake in Blackstone in the 2nd quarter worth approximately $39,000. Finally, Raleigh Capital Management Inc. increased its stake 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 buying an additional 62 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 0.7 %

NYSE:BX opened at $186.79 on Monday. The company has a market cap of $134.86 billion, a PE ratio of 64.19, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. 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 company has a 50 day simple moving average of $180.90 and a two-hundred day simple moving average of $160.62.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BX shares. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, StockNews.com raised Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday, January 21st. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $169.56.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on 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 owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

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.