CreativeOne Wealth LLC Invests $238,000 in Blackstone Inc. (NYSE:BX)

CreativeOne Wealth LLC bought a new position in Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,817 shares of the asset manager’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WealthPlan Investment Management LLC raised its position in Blackstone by 914.4% in the 3rd quarter. WealthPlan Investment Management LLC now owns 21,697 shares of the asset manager’s stock worth $2,325,000 after purchasing an additional 19,558 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Blackstone in the 3rd quarter valued at approximately $610,000. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in Blackstone by 3.9% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 9,949 shares of the asset manager’s stock valued at $1,066,000 after purchasing an additional 375 shares during the period. Assenagon Asset Management S.A. raised its holdings in Blackstone by 11.7% in the third quarter. Assenagon Asset Management S.A. now owns 15,059 shares of the asset manager’s stock worth $1,613,000 after purchasing an additional 1,583 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Blackstone by 4.2% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 6,326 shares of the asset manager’s stock valued at $678,000 after buying an additional 255 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Ruth Porat purchased 219 shares of Blackstone stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the transaction, the director now directly owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Price Performance

Shares of NYSE BX opened at $123.64 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $81.94 and a twelve month high of $133.56. The business’s 50 day moving average price is $124.85 and its two-hundred day moving average price is $122.03. The company has a market cap of $88.36 billion, a PE ratio of 43.69, a price-to-earnings-growth ratio of 1.03 and a beta of 1.52.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The company’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 EPS. On average, analysts predict that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s dividend payout ratio is presently 117.31%.

Wall Street Analyst Weigh In

BX has been the subject of a number of research analyst reports. TD Cowen decreased their target price on Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research note on Friday, April 19th. Morgan Stanley boosted their price objective on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. UBS Group boosted their price target on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 12th. JPMorgan Chase & Co. decreased their price objective on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, Piper Sandler reduced their price target on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $123.65.

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.