Conway Capital Management Inc. Has $2.83 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Conway Capital Management Inc. raised its holdings in Blackstone Inc. (NYSE:BX) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,388 shares of the asset manager’s stock after purchasing an additional 1,821 shares during the quarter. Blackstone accounts for approximately 1.3% of Conway Capital Management Inc.’s investment portfolio, making the stock its 17th biggest position. Conway Capital Management Inc.’s holdings in Blackstone were worth $2,826,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bangor Savings Bank boosted its stake in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. West Financial Advisors LLC bought a new stake in shares of Blackstone in the third quarter worth $27,000. Kieckhefer Group LLC bought a new position in Blackstone during the 4th quarter worth $39,000. Raleigh Capital Management Inc. grew its position in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Blackstone by 57.7% during the third quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock worth $43,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 1.5 %

Shares of BX stock opened at $185.56 on Friday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a 50-day simple moving average of $180.71 and a two-hundred day simple moving average of $159.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $133.98 billion, a price-to-earnings ratio of 63.77, a PEG ratio of 1.21 and a beta of 1.53.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated 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 completion of the transaction, the insider now 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BX has been the subject of several analyst reports. JPMorgan Chase & Co. raised 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. Wells Fargo & Company cut their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays lowered their price objective on Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, 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. 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 stock has an average rating of “Hold” and a consensus target price 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.