Atomi Financial Group Inc. Acquires 414 Shares of Blackstone Inc. (NYSE:BX)

Atomi Financial Group Inc. increased its stake in shares of Blackstone Inc. (NYSE:BX) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,901 shares of the asset manager’s stock after purchasing an additional 414 shares during the period. Atomi Financial Group Inc.’s holdings in Blackstone were worth $2,914,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its stake in Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares during the period. Legal & General Group Plc boosted its stake in Blackstone by 2.3% during the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after buying an additional 141,616 shares during the period. International Assets Investment Management LLC increased its stake in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after acquiring an additional 4,173,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Blackstone by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock valued at $602,017,000 after acquiring an additional 61,739 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $180.00 on Tuesday. Blackstone Inc. has a 1-year low of $115.63 and a 1-year high of $200.96. The firm has a market cap of $129.96 billion, a P/E ratio of 61.86, a P/E/G ratio of 1.20 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. The firm has a 50-day moving average of $180.67 and a 200-day moving average of $159.13.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price 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. BMO Capital Markets raised their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Bank of America increased their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $169.56.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the firm’s 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 sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.