Blackstone Inc. (NYSE:BX) is Cryder Capital Partners LLP’s 5th Largest Position

Cryder Capital Partners LLP lessened its position in shares of Blackstone Inc. (NYSE:BXGet Rating) by 0.1% in the third quarter, Holdings Channel.com reports. The fund owned 2,220,644 shares of the asset manager’s stock after selling 3,225 shares during the quarter. Blackstone comprises approximately 11.5% of Cryder Capital Partners LLP’s holdings, making the stock its 5th largest position. Cryder Capital Partners LLP’s holdings in Blackstone were worth $185,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Blackstone by 0.4% during the second quarter. State Street Corp now owns 16,550,073 shares of the asset manager’s stock worth $1,509,863,000 after purchasing an additional 62,922 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Blackstone by 2.1% during the second quarter. Legal & General Group Plc now owns 5,888,136 shares of the asset manager’s stock worth $537,176,000 after purchasing an additional 123,123 shares in the last quarter. Brown Advisory Inc. lifted its stake in shares of Blackstone by 15.8% in the second quarter. Brown Advisory Inc. now owns 5,650,158 shares of the asset manager’s stock worth $529,210,000 after acquiring an additional 772,925 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Blackstone by 8.6% in the first quarter. Northern Trust Corp now owns 5,041,373 shares of the asset manager’s stock worth $639,952,000 after acquiring an additional 401,063 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its stake in shares of Blackstone by 0.3% in the third quarter. First Republic Investment Management Inc. now owns 2,332,299 shares of the asset manager’s stock worth $195,213,000 after acquiring an additional 8,087 shares in the last quarter. Hedge funds and other institutional investors own 62.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on BX. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $127.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday, November 15th. Argus lowered their price objective on Blackstone from $137.00 to $115.00 in a report on Tuesday, October 25th. Piper Sandler lowered their price objective on Blackstone from $114.00 to $111.00 and set an “overweight” rating for the company in a report on Wednesday, December 21st. BMO Capital Markets lowered their price objective on Blackstone from $90.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, January 5th. Finally, Morgan Stanley lowered their price objective on Blackstone from $113.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $109.03.

Blackstone Price Performance

Shares of NYSE:BX opened at $86.90 on Wednesday. Blackstone Inc. has a one year low of $71.72 and a one year high of $138.95. The stock has a fifty day moving average of $81.81 and a 200-day moving average of $90.26. The company has a market capitalization of $60.98 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 2.73 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.85 and a current ratio of 0.85.

Insider Activity

In related news, Director Ruth Porat bought 20,000 shares of Blackstone stock in a transaction that occurred on Friday, December 2nd. The stock was acquired at an average price of $83.55 per share, for a total transaction of $1,671,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at $1,671,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackstone news, Director Ruth Porat purchased 20,000 shares of the business’s stock in a transaction on Friday, December 2nd. The stock was purchased at an average price of $83.55 per share, for a total transaction of $1,671,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $1,671,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings I/Ii Gp L. Blackstone sold 6,341,568 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $8.00, for a total transaction of $50,732,544.00. Following the transaction, the insider now owns 83,109 shares of the company’s stock, valued at approximately $664,872. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,297,285 shares of company stock worth $172,508,262. Insiders own 1.00% of the company’s stock.

About Blackstone

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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.

Further Reading

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:BXGet Rating).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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