Forsta AP Fonden Boosts Stake in Blackstone Inc. (NYSE:BX)

Forsta AP Fonden grew its stake in Blackstone Inc. (NYSE:BX) by 20.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 197,700 shares of the asset manager’s stock after buying an additional 33,700 shares during the period. Forsta AP Fonden’s holdings in Blackstone were worth $34,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BX. State Street Corp lifted its position in shares of Blackstone by 1.2% in 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 lifted its holdings in Blackstone by 2.3% in the 3rd 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 in the last quarter. International Assets Investment Management LLC boosted 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 purchasing an additional 4,173,971 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Blackstone by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after buying an additional 61,739 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Blackstone by 3.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after acquiring an additional 116,367 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on BX shares. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $169.56.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the business’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 owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 1.8 %

Shares of BX opened at $185.73 on Wednesday. The firm has a market capitalization of $134.10 billion, a price-to-earnings ratio of 63.83, a PEG ratio of 1.22 and a beta of 1.53. The company has a 50-day moving average of $180.91 and a 200 day moving average of $161.67. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone Company 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.