Forsta AP Fonden Has $34.09 Million Holdings in Blackstone Inc. (NYSE:BX)

Forsta AP Fonden raised its stake in Blackstone Inc. (NYSE:BX) by 20.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 197,700 shares of the asset manager’s stock after buying an additional 33,700 shares during the period. Forsta AP Fonden’s holdings in Blackstone were worth $34,087,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Glen Eagle Advisors LLC lifted its holdings in Blackstone by 1.8% during the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 59 shares during the last quarter. Investmark Advisory Group LLC lifted its stake in shares of Blackstone by 2.4% during the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after buying an additional 60 shares in the last quarter. Raleigh Capital Management Inc. lifted its position 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 worth $39,000 after acquiring an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after buying an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its stake in Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Up 1.8 %

Shares of NYSE:BX opened at $185.73 on Wednesday. The stock has a market capitalization of $134.10 billion, a price-to-earnings ratio of 63.83, a PEG ratio of 1.22 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The stock has a fifty day simple moving average of $180.91 and a two-hundred day simple moving average of $161.67.

Insider Activity

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 sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. BMO Capital Markets lifted their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $169.56.

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.