Fidelis Capital Partners LLC Increases Stock Position in Blackstone Inc. $BX

Fidelis Capital Partners LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 97.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,707 shares of the asset manager’s stock after acquiring an additional 12,171 shares during the period. Fidelis Capital Partners LLC’s holdings in Blackstone were worth $4,221,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BX. Vanguard Group Inc. boosted its position in shares of Blackstone by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after purchasing an additional 1,494,796 shares during the period. Redmond Asset Management LLC boosted its holdings in shares of Blackstone by 21.2% in the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after buying an additional 3,281 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Blackstone by 733.2% during the third quarter. Exchange Traded Concepts LLC now owns 13,715 shares of the asset manager’s stock valued at $2,343,000 after acquiring an additional 12,069 shares during the period. Longfellow Investment Management Co. LLC boosted its stake in Blackstone by 259.8% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 22,160 shares of the asset manager’s stock worth $3,315,000 after purchasing an additional 16,001 shares during the period. Finally, Whittier Trust Co. raised its stake in Blackstone by 2.1% during the 3rd quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager’s stock valued at $58,337,000 after purchasing an additional 7,053 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other news, Director James Breyer acquired 13,900 shares of Blackstone stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average cost of $143.86 per share, for a total transaction of $1,999,654.00. Following the completion of the purchase, the director owned 68,906 shares of the company’s stock, valued at $9,912,817.16. This represents a 25.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the acquisition, the insider directly owned 16,332,883 shares in the company, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 783,978 shares of company stock worth $22,058,454. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BX. Evercore ISI lowered their price target on Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, October 22nd. HSBC dropped their target price on Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, January 21st. Finally, TD Cowen dropped their price target on shares of Blackstone from $205.00 to $183.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. Nine analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average price target of $177.05.

Blackstone Stock Down 1.2%

BX stock opened at $146.64 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $108.28 billion, a PE ratio of 41.90, a PEG ratio of 1.05 and a beta of 1.75. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $190.09. The company has a fifty day simple moving average of $152.95 and a 200 day simple moving average of $161.08.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.