New England Research & Management Inc. Buys New Shares in Blackstone Inc. (NYSE:BX)

New England Research & Management Inc. acquired a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,650 shares of the asset manager's stock, valued at approximately $974,000.

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

Blackstone Stock Down 3.2 %

BX stock traded down $5.99 during midday trading on Thursday, hitting $179.40. The company's stock had a trading volume of 3,607,013 shares, compared to its average volume of 2,950,907. The company has a market cap of $129.52 billion, a PE ratio of 61.57, a P/E/G ratio of 1.22 and a beta of 1.53. The firm's 50-day moving average is $180.92 and its 200-day moving average is $161.84. Blackstone Inc. has a 12 month low of $115.82 and a 12 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.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, equities research analysts forecast that Blackstone Inc. will post 4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BX has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a report on Thursday, December 19th. Bank of America increased 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. UBS Group increased their price objective on Blackstone from $140.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, October 16th. Cowen restated a "hold" rating on shares of Blackstone in a report on Friday, October 18th. Finally, The Goldman Sachs Group upped their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone has an average rating of "Hold" and an average target price of $169.56.

Insider Buying and Selling at Blackstone

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 transaction, the insider now owns 387,137 shares in the company, valued at $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 available at this link. 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.