CreativeOne Wealth LLC Boosts Stock Holdings in Blackstone Inc. (NYSE:BX)

CreativeOne Wealth LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 91.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,259 shares of the asset manager’s stock after acquiring an additional 5,393 shares during the period. CreativeOne Wealth LLC’s holdings in Blackstone were worth $1,724,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BX. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone in the 2nd quarter worth about $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone in the 2nd quarter worth about $27,000. West Financial Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter worth about $27,000. Bank & Trust Co bought a new stake in shares of Blackstone in the 2nd quarter worth about $29,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Blackstone in the 2nd quarter worth about $31,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Down 1.4 %

NYSE:BX opened at $189.02 on Friday. The company has a market cap of $136.47 billion, a PE ratio of 64.96, a P/E/G ratio of 1.64 and a beta of 1.49. Blackstone Inc. has a twelve month low of $106.00 and a twelve month high of $200.96. 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’s 50 day moving average is $168.63 and its two-hundred day moving average is $144.38.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Analysts anticipate that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.82%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. Blackstone’s payout ratio is presently 118.21%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BX shares. Citigroup lifted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective for the company. in a report on Wednesday, October 9th. The Goldman Sachs Group raised their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $157.63.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the business’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 directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Company Profile

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.