Montecito Bank & Trust Raises Stock Holdings in Blackstone Inc. (NYSE:BX)

Montecito Bank & Trust increased its holdings in Blackstone Inc. (NYSE:BX) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,442 shares of the asset manager’s stock after acquiring an additional 668 shares during the quarter. Montecito Bank & Trust’s holdings in Blackstone were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans raised its holdings in Blackstone by 2.4% during the second quarter. Thrivent Financial for Lutherans now owns 44,614 shares of the asset manager’s stock valued at $5,524,000 after acquiring an additional 1,036 shares during the period. Marshall Wace LLP lifted its holdings in Blackstone by 3,074.1% in the 2nd quarter. Marshall Wace LLP now owns 107,064 shares of the asset manager’s stock worth $13,255,000 after purchasing an additional 103,691 shares in the last quarter. Fred Alger Management LLC grew its holdings in Blackstone by 5.1% during the 2nd quarter. Fred Alger Management LLC now owns 57,851 shares of the asset manager’s stock valued at $7,162,000 after buying an additional 2,818 shares in the last quarter. AXA S.A. lifted its holdings in shares of Blackstone by 17.6% in the second quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock worth $4,305,000 after buying an additional 5,214 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Blackstone by 123.6% during the second quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock valued at $2,453,000 after acquiring an additional 10,952 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BX. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Bank of America lifted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $169.56.

Blackstone Trading Up 1.5 %

Shares of NYSE BX opened at $185.56 on Friday. The stock has a market capitalization of $133.98 billion, a P/E ratio of 63.77, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $180.71 and a 200 day moving average price of $159.71. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value 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. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

About Blackstone

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.