Berkshire Bank Invests $287,000 in Blackstone Inc. (NYSE:BX)

Berkshire Bank bought a new position in Blackstone Inc. (NYSE:BX) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,662 shares of the asset manager’s stock, valued at approximately $287,000.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after buying an additional 4,173,971 shares during the last quarter. Castleark Management LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at about $67,472,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Blackstone by 7,917.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock valued at $49,520,000 after buying an additional 395,011 shares during the period. State Street Corp increased its position in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after acquiring an additional 336,308 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

BX opened at $182.59 on Tuesday. Blackstone Inc. has a twelve month low of $115.82 and a twelve 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 stock has a market cap of $131.83 billion, a PE ratio of 62.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The business’s 50 day moving average is $180.90 and its 200-day moving average is $160.88.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BX. BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Citigroup upped their target price 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. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. Keefe, Bruyette & Woods dropped their target price on Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $169.56.

Insiders Place Their Bets

In other 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 transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

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.