Lebenthal Global Advisors LLC Acquires 650 Shares of Blackstone Inc. (NYSE:BX)

Lebenthal Global Advisors LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 10.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,595 shares of the asset manager’s stock after buying an additional 650 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Blackstone were worth $1,137,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bangor Savings Bank grew its holdings in 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 period. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at about $27,000. Berbice Capital Management LLC acquired a new position in Blackstone during the 4th quarter worth approximately $34,000. Kieckhefer Group LLC acquired a new stake in Blackstone in the fourth quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. raised 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 purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of Blackstone 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 transaction, the insider now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of several research reports. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Bank of America boosted their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Keefe, Bruyette & Woods dropped their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Trading Down 2.2 %

Shares of BX stock opened at $182.59 on Tuesday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $180.90 and a 200-day moving average of $160.88. The firm has a market cap of $131.83 billion, a P/E ratio of 62.75, a PEG ratio of 1.22 and a beta of 1.53.

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.