Cerro Pacific Wealth Advisors LLC Invests $237,000 in Blackstone Inc. (NYSE:BX)

Cerro Pacific Wealth Advisors LLC acquired a new position in Blackstone Inc. (NYSE:BX) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,377 shares of the asset manager’s stock, valued at approximately $237,000.

Other large investors also recently modified their holdings of the company. Sather Financial Group Inc increased its holdings in Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the last quarter. Portside Wealth Group LLC acquired a new stake in Blackstone in the third quarter valued at $201,000. Aljian Capital Management LLC acquired a new position in Blackstone during the 3rd quarter worth $1,951,000. Icon Wealth Advisors LLC raised its stake in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Blackstone by 3.2% during the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after buying an additional 36,343 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on BX. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup increased their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods reduced their price objective on Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $169.56.

Blackstone Price Performance

Shares of BX stock opened at $185.56 on Friday. The company has a market capitalization of $133.98 billion, a P/E ratio of 63.77, a P/E/G ratio of 1.21 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. The stock has a 50 day moving average of $180.71 and a two-hundred day moving average of $159.71.

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.