Pacer Advisors Inc. Acquires 4,339 Shares of Blackstone Inc. (NYSE:BX)

Pacer Advisors Inc. raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 57,747 shares of the asset manager’s stock after acquiring an additional 4,339 shares during the period. Pacer Advisors Inc.’s holdings in Blackstone were worth $9,957,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Union Bancaire Privee UBP SA bought a new stake in Blackstone in the fourth quarter valued at approximately $472,000. Blue Trust Inc. raised its holdings in Blackstone by 84.8% during the 4th quarter. Blue Trust Inc. now owns 7,364 shares of the asset manager’s stock valued at $1,270,000 after buying an additional 3,379 shares during the last quarter. Cathy Pareto & Associates Inc. bought a new stake in Blackstone in the 4th quarter worth $274,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Blackstone by 6.5% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,228 shares of the asset manager’s stock valued at $1,419,000 after acquiring an additional 505 shares during the last quarter. Finally, Regatta Capital Group LLC increased its holdings in Blackstone by 4.0% during the 4th quarter. Regatta Capital Group LLC now owns 4,196 shares of the asset manager’s stock valued at $724,000 after purchasing an additional 160 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BX. Citigroup lifted their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barclays decreased their price objective on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. StockNews.com upgraded shares of Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Evercore ISI raised their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $169.56.

Blackstone Price Performance

Shares of BX opened at $185.73 on Wednesday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The company has a market capitalization of $134.10 billion, a P/E ratio of 63.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The firm has a 50 day moving average of $180.89 and a 200 day moving average of $161.27. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the business’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 transaction 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 $68,112,883.78. The trade was 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 at the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.