CreativeOne Wealth LLC Grows Position in Blackstone Inc. (NYSE:BX)

CreativeOne Wealth LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 91.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 11,259 shares of the asset manager’s stock after purchasing an additional 5,393 shares during the quarter. CreativeOne Wealth LLC’s holdings in Blackstone were worth $1,724,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BX. Raleigh Capital Management Inc. grew its holdings in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of Blackstone by 2.3% in the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares during the period. Fidelis Capital Partners LLC grew its holdings in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares during the period. Harbor Capital Advisors Inc. lifted its position in Blackstone by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock valued at $2,132,000 after buying an additional 64 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in Blackstone by 1.1% in the third quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock valued at $879,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $189.02 on Friday. The firm has a market capitalization of $136.47 billion, a P/E ratio of 64.96, a P/E/G ratio of 1.64 and a beta of 1.49. Blackstone Inc. has a 52 week low of $106.00 and a 52 week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $168.63 and its two-hundred day moving average is $144.38.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Research analysts forecast that Blackstone Inc. will post 4.4 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.82%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Analysts Set New Price Targets

A number of research firms have commented on BX. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their target price on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 9th. Barclays increased their price target on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $157.63.

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.