Mount Yale Investment Advisors LLC Buys 3,070 Shares of Blackstone Inc. (NYSE:BX)

Mount Yale Investment Advisors LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 153.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,066 shares of the asset manager’s stock after purchasing an additional 3,070 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Blackstone were worth $873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BX. International Assets Investment Management LLC raised 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 valued at $6,433,220,000 after acquiring an additional 4,173,971 shares during the period. Castleark Management LLC bought a new stake in shares of Blackstone in the third quarter valued at approximately $67,472,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Blackstone by 7,917.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after buying an additional 395,011 shares during the period. State Street Corp raised its holdings in Blackstone by 1.2% during the 3rd 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 during the period. Finally, Geode Capital Management LLC grew its position 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 valued at $2,272,227,000 after purchasing an additional 336,308 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Down 2.2 %

NYSE BX opened at $182.59 on Tuesday. 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 stock 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 PE ratio of 62.75, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets increased their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Finally, UBS Group upped their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $169.56.

Insider Activity

In other Blackstone news, insider John G. Finley sold 42,249 shares of the 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 owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.