Cerro Pacific Wealth Advisors LLC Acquires Shares of 1,377 Blackstone Inc. (NYSE:BX)

Cerro Pacific Wealth Advisors LLC bought a new stake in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,377 shares of the asset manager’s stock, valued at approximately $237,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Sather Financial Group Inc increased its holdings in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after acquiring an additional 4,050 shares during the period. Portside Wealth Group LLC purchased a new stake in shares of Blackstone in the third quarter valued at about $201,000. Aljian Capital Management LLC purchased a new position in shares of Blackstone during the third quarter worth about $1,951,000. Icon Wealth Advisors LLC raised its stake in Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Blackstone by 3.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after purchasing an additional 36,343 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BX. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and increased their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Citigroup boosted their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Morgan Stanley lifted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Evercore ISI raised their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. 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 MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus price target of $169.56.

Blackstone Stock Up 1.5 %

Shares of NYSE BX opened at $185.56 on Friday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The stock has a market capitalization of $133.98 billion, a PE ratio of 63.77, a P/E/G ratio of 1.21 and a beta of 1.53. 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 firm has a fifty day moving average of $180.71 and a 200-day moving average of $159.71.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the company’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 directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

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.