Highland Capital Management LLC Has $3.85 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Highland Capital Management LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 214.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 22,303 shares of the asset manager’s stock after acquiring an additional 15,205 shares during the quarter. Highland Capital Management LLC’s holdings in Blackstone were worth $3,845,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of Blackstone by 123.6% during the 2nd quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock valued at $2,453,000 after acquiring an additional 10,952 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Blackstone by 5.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 118,888 shares of the asset manager’s stock valued at $14,718,000 after acquiring an additional 5,825 shares during the period. Quarry LP acquired a new position in shares of Blackstone during the 2nd quarter valued at $95,000. Regal Investment Advisors LLC lifted its position in shares of Blackstone by 8.0% during the 2nd quarter. Regal Investment Advisors LLC now owns 3,396 shares of the asset manager’s stock valued at $420,000 after acquiring an additional 252 shares during the period. Finally, EP Wealth Advisors LLC increased its stake in Blackstone by 3.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 21,909 shares of the asset manager’s stock valued at $2,712,000 after purchasing an additional 801 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the company’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 transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $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 accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 0.1 %

Shares of Blackstone stock opened at $185.73 on Thursday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a market cap 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 current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $180.91 and its 200-day moving average price is $161.67.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BX. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Wells Fargo & Company reduced their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and upped their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Bank of America upped their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $169.56.

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.