Blackstone Inc. (NYSE:BX) Shares Acquired by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 9.3% in the 4th quarter, Holdings Channel reports. The firm owned 5,001 shares of the asset manager’s stock after purchasing an additional 427 shares during the period. Clear Creek Financial Management LLC’s holdings in Blackstone were worth $862,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after buying an additional 4,173,971 shares in the last quarter. Castleark Management LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $67,472,000. State Street Corp increased its holdings in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after purchasing an additional 348,751 shares during the last quarter. Geode Capital Management LLC boosted its stake in Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after buying an additional 336,308 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in Blackstone by 15,294.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 236,453 shares of the asset manager’s stock valued at $36,208,000 after buying an additional 234,917 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Down 0.5 %

BX stock opened at $176.92 on Friday. The stock has a market capitalization of $127.74 billion, a PE ratio of 60.80, a price-to-earnings-growth ratio of 1.24 and a beta of 1.53. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a fifty day moving average of $180.15 and a 200-day moving average of $162.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, analysts expect that Blackstone Inc. will post 4.41 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be issued a dividend of $1.44 per share. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.26%. Blackstone’s payout ratio is currently 118.21%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group upped their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Citigroup increased their price target on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $171.13.

Blackstone 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.