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

Conway Capital Management Inc. grew its position in Blackstone Inc. (NYSE:BX) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,388 shares of the asset manager’s stock after purchasing an additional 1,821 shares during the quarter. Blackstone makes up approximately 1.3% of Conway Capital Management Inc.’s portfolio, making the stock its 17th largest holding. Conway Capital Management Inc.’s holdings in Blackstone were worth $2,826,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BX. Sather Financial Group Inc raised its stake in Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the last quarter. Portside Wealth Group LLC acquired a new position in shares of Blackstone in the third quarter valued at $201,000. Aljian Capital Management LLC acquired a new stake in Blackstone during the third 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 buying an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Blackstone by 3.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after acquiring an additional 36,343 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BX shares. 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. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group increased their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley boosted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $169.56.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was 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 $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.5 %

BX stock opened at $185.56 on Friday. 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 PE ratio of 63.77, a price-to-earnings-growth ratio of 1.21 and a beta of 1.53. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company’s 50-day simple moving average is $180.71 and its 200 day simple moving average is $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.