Griffin Asset Management Inc. Has $11.45 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Griffin Asset Management Inc. decreased its stake in shares of Blackstone Inc. (NYSE:BX) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,421 shares of the asset manager’s stock after selling 443 shares during the period. Blackstone makes up about 1.3% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. Griffin Asset Management Inc.’s holdings in Blackstone were worth $11,452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BX. AXA S.A. lifted its stake in Blackstone by 17.6% in the 2nd quarter. AXA S.A. now owns 34,772 shares of the asset manager’s stock valued at $4,305,000 after acquiring an additional 5,214 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Blackstone by 123.6% during the second quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock worth $2,453,000 after purchasing an additional 10,952 shares during the last quarter. Ascent Group LLC lifted its position in Blackstone by 55.0% during the 2nd quarter. Ascent Group LLC now owns 7,843 shares of the asset manager’s stock worth $971,000 after buying an additional 2,784 shares in the last quarter. Creative Planning grew its holdings in shares of Blackstone by 1.4% in the 2nd quarter. Creative Planning now owns 228,268 shares of the asset manager’s stock valued at $28,260,000 after acquiring an additional 3,120 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Blackstone by 19.0% during the second quarter. NewEdge Advisors LLC now owns 102,804 shares of the asset manager’s stock worth $12,727,000 after acquiring an additional 16,400 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BX shares. Keefe, Bruyette & Woods cut their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Wells Fargo & Company dropped their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. The Goldman Sachs Group upped their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group boosted their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Barclays reduced their price objective on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $169.56.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

Blackstone Trading Down 2.2 %

NYSE:BX opened at $182.59 on Tuesday. The company 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 12 month low of $115.82 and a 12 month high of $200.96. 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 company has a 50 day simple moving average of $180.90 and a two-hundred day simple moving average of $160.88.

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.