EFG Asset Management North America Corp. Purchases 9,578 Shares of Blackstone Inc. $BX

EFG Asset Management North America Corp. lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 27.8% in the third quarter, HoldingsChannel.com reports. The fund owned 44,092 shares of the asset manager’s stock after acquiring an additional 9,578 shares during the period. Blackstone makes up 1.0% of EFG Asset Management North America Corp.’s investment portfolio, making the stock its 16th largest position. EFG Asset Management North America Corp.’s holdings in Blackstone were worth $7,530,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Blackstone by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after purchasing an additional 1,494,796 shares during the period. Geode Capital Management LLC raised its position in Blackstone by 1.4% in the second quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock worth $2,462,706,000 after acquiring an additional 227,416 shares during the period. Norges Bank purchased a new position in Blackstone in the second quarter valued at about $1,071,348,000. Legal & General Group Plc increased its stake in shares of Blackstone by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 4,532,941 shares of the asset manager’s stock worth $678,037,000 after purchasing an additional 202,245 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Blackstone by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,200,194 shares of the asset manager’s stock worth $628,265,000 after purchasing an additional 37,327 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, Director James Breyer acquired 13,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was bought at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the purchase, the director owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This represents a 25.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider owned 2,161 shares in the company, valued at $21,610. This represents a 99.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 797,148 shares of company stock worth $24,050,153. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BX has been the subject of a number of recent research reports. Citigroup decreased their target price on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. The Goldman Sachs Group lifted their price objective on Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Rothschild & Co Redburn cut their target price on shares of Blackstone from $168.00 to $165.00 and set a “neutral” rating for the company in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley lifted their price objective on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Nine equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $177.25.

Blackstone Price Performance

Shares of NYSE:BX opened at $150.27 on Tuesday. The company has a 50 day moving average of $152.54 and a 200 day moving average of $161.28. 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 stock has a market cap of $110.97 billion, a P/E ratio of 42.93, a P/E/G ratio of 1.06 and a beta of 1.75. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $190.09.

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.