Sumitomo Life Insurance Co. Takes $9.98 Million Position in Blackstone Inc. (NYSE:BX)

Sumitomo Life Insurance Co. acquired a new stake in shares of Blackstone Inc. (NYSE:BXFree Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 57,900 shares of the asset manager’s stock, valued at approximately $9,983,000.

Several other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in shares of Blackstone by 123.6% in the 2nd quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock worth $2,453,000 after buying an additional 10,952 shares during the period. Ascent Group LLC increased its stake in shares of Blackstone by 55.0% during the second quarter. Ascent Group LLC now owns 7,843 shares of the asset manager’s stock valued at $971,000 after purchasing an additional 2,784 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Blackstone by 5.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 118,888 shares of the asset manager’s stock worth $14,718,000 after purchasing an additional 5,825 shares in the last quarter. Sunbelt Securities Inc. increased its position in Blackstone by 3.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 6,673 shares of the asset manager’s stock valued at $826,000 after buying an additional 214 shares in the last quarter. Finally, Quarry LP bought a new stake in Blackstone in the second quarter worth $95,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $185.73 on Wednesday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The business’s fifty day simple moving average is $180.89 and its 200-day simple moving average is $161.27. 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 has a market cap of $134.10 billion, a PE ratio of 63.83, a PEG ratio of 1.22 and a beta of 1.53.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BX shares. Barclays reduced their price objective on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Evercore ISI boosted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. JPMorgan Chase & Co. increased 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, BMO Capital Markets upped their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $169.56.

Check Out Our Latest Analysis on BX

Blackstone Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.