Fidelis Capital Partners LLC Has $4.22 Million Holdings in Blackstone Inc. $BX

Fidelis Capital Partners LLC lifted its stake in Blackstone Inc. (NYSE:BX) by 97.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Traub Capital Management LLC acquired a new position in shares of Blackstone during the second quarter valued at about $27,000. Family CFO Inc acquired a new position in Blackstone in the 2nd quarter valued at approximately $28,000. Parvin Asset Management LLC acquired a new stake in shares of Blackstone during the 2nd quarter worth approximately $35,000. Rexford Capital Inc. acquired a new position in shares of Blackstone in the second quarter valued at $35,000. Finally, RMG Wealth Management LLC acquired a new stake in Blackstone during the second quarter worth $40,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of NYSE:BX opened at $146.64 on Thursday. The business has a fifty day moving average of $152.95 and a 200-day moving average of $161.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $190.09. The firm has a market cap of $108.28 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 1.05 and a beta of 1.75.

Insider Activity at Blackstone

In other news, Director Ruth Porat acquired 324 shares of Blackstone stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $146.92 per share, with a total value of $47,602.08. Following the acquisition, the director owned 39,077 shares in the company, valued at $5,741,192.84. This represents a 0.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the sale, the insider owned 2,161 shares of the company’s stock, valued at approximately $21,610. The trade was a 99.86% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders purchased 783,978 shares of company stock valued at $22,058,454. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Morgan Stanley lifted their price objective on Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. TD Cowen dropped their target price on Blackstone from $205.00 to $183.00 and set a “buy” rating for the company in a report on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $177.05.

Blackstone 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.