Fifth Third Bancorp Has $19.53 Million Stake in Blackstone Inc. (NYSE:BX)

Fifth Third Bancorp grew its position in shares of Blackstone Inc. (NYSE:BX) by 21.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,274 shares of the asset manager’s stock after purchasing an additional 19,741 shares during the quarter. Fifth Third Bancorp’s holdings in Blackstone were worth $19,531,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the third quarter valued at about $27,000. Bangor Savings Bank increased its position in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Berbice Capital Management LLC acquired a new position in shares of Blackstone in the 4th quarter worth approximately $34,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Blackstone during the second quarter worth $39,000. Finally, Raleigh Capital Management Inc. raised its stake in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

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 sale, the insider now owns 387,137 shares of the company’s stock, 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. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

BX stock opened at $186.79 on Friday. The business has a 50 day moving average of $180.90 and a 200-day moving average of $160.35. The firm has a market cap of $134.86 billion, a PE ratio of 64.19, a P/E/G ratio of 1.22 and a beta of 1.53. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BX shares. Morgan Stanley lifted their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research note on Tuesday, January 21st. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, UBS Group increased their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average 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.