1,200 Shares in Blackstone Inc. (NYSE:BX) Acquired by Cornerstone Wealth Advisors Inc.

Cornerstone Wealth Advisors Inc. acquired a new stake in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,200 shares of the asset manager’s stock, valued at approximately $207,000.

A number of other hedge funds have also recently bought and sold shares of BX. State Street Corp boosted its position in shares of Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after purchasing an additional 348,751 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 during the last quarter. Legal & General Group Plc boosted its position in shares of Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after purchasing an additional 141,616 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Blackstone by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after purchasing an additional 61,739 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Wells Fargo & Company lowered their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group upped their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Stock Up 0.7 %

Shares of BX opened at $186.79 on Friday. The firm’s 50 day moving average is $180.79 and its 200-day moving average is $159.89. The stock has a market capitalization of $134.86 billion, a PE ratio of 64.19, a P/E/G ratio of 1.22 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. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s 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 sale, the insider now owns 387,137 shares in the company, 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 filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

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.