Creekmur Asset Management LLC Makes New $341,000 Investment in Blackstone Inc. (NYSE:BX)

Creekmur Asset Management LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BXFree Report) in the 4th quarter, Holdings Channel reports. The fund purchased 2,601 shares of the asset manager’s stock, valued at approximately $341,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Financial Advisors bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $25,000. Bourgeon Capital Management LLC raised its stake in Blackstone by 86.2% in the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Roble Belko & Company Inc bought a new position in Blackstone in the fourth quarter worth approximately $30,000. Advantage Trust Co bought a new position in Blackstone in the fourth quarter worth approximately $30,000. Finally, Exchange Traded Concepts LLC raised its stake in Blackstone by 763.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ruth Porat acquired 219 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the transaction, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX traded down $0.96 during mid-day trading on Friday, hitting $121.25. The company’s stock had a trading volume of 1,685,481 shares, compared to its average volume of 2,907,827. Blackstone Inc. has a 1 year low of $87.40 and a 1 year high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $86.65 billion, a price-to-earnings ratio of 42.84, a PEG ratio of 1.01 and a beta of 1.53. The business’s fifty day moving average is $122.46 and its two-hundred day moving average is $123.77.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm’s revenue was up 166.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 earnings per share. Analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were given a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.74%. Blackstone’s dividend payout ratio (DPR) is currently 117.31%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BX. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Piper Sandler cut their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Morgan Stanley lifted their price target on shares of Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Argus lifted their price target on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, UBS Group lifted their price target on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $123.65.

View Our Latest Stock Analysis on Blackstone

Blackstone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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