MassMutual Private Wealth & Trust FSB Has $829,000 Stake in Blackstone Inc. (NYSE:BX)

MassMutual Private Wealth & Trust FSB raised its position in Blackstone Inc. (NYSE:BX) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,806 shares of the asset manager’s stock after purchasing an additional 586 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Blackstone were worth $829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Glen Eagle Advisors LLC grew its stake in shares of Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares in the last quarter. Investmark Advisory Group LLC grew its position in Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 60 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after acquiring an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of Blackstone 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 directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 0.9 %

Shares of NYSE:BX opened at $181.52 on Wednesday. The business’s 50 day simple moving average is $180.67 and its 200 day simple moving average is $159.13. The company has a market capitalization of $131.06 billion, a P/E ratio of 62.38, a P/E/G ratio of 1.20 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. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96.

Analyst Upgrades and Downgrades

BX has been the topic of a number of analyst reports. Keefe, Bruyette & Woods dropped their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company decreased their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Piper Sandler raised their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Blackstone from $125.00 to $146.00 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 issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $169.56.

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.