2,601 Shares in Blackstone Inc. (NYSE:BX) Purchased by Creekmur Asset Management LLC

Creekmur Asset Management LLC purchased a new stake in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,601 shares of the asset manager’s stock, valued at approximately $341,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. UNIVEST FINANCIAL Corp increased its holdings in shares of Blackstone by 2.9% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 3,320 shares of the asset manager’s stock valued at $435,000 after purchasing an additional 95 shares during the period. Marino Stram & Associates LLC raised its stake in Blackstone by 3.8% during the fourth quarter. Marino Stram & Associates LLC now owns 2,592 shares of the asset manager’s stock worth $339,000 after acquiring an additional 96 shares in the last quarter. FFT Wealth Management LLC increased its stake in shares of Blackstone by 2.0% in the fourth quarter. FFT Wealth Management LLC now owns 5,094 shares of the asset manager’s stock valued at $667,000 after buying an additional 99 shares in the last quarter. Mayfair Advisory Group LLC boosted its holdings in Blackstone by 2.7% in the fourth quarter. Mayfair Advisory Group LLC now owns 3,776 shares of the asset manager’s stock valued at $484,000 after acquiring an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. boosted its holdings in Blackstone by 23.0% in the fourth quarter. Hartford Financial Management Inc. now owns 534 shares of the asset manager’s stock valued at $70,000 after acquiring an additional 100 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BX shares. TD Cowen dropped their price target on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Bank of America reduced their price target on Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Barclays restated an “equal weight” rating and issued a $125.00 price target (down from $129.00) on shares of Blackstone in a research note on Friday, April 19th. UBS Group upped their target price on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $123.65.

Blackstone Price Performance

BX traded down $0.96 on Friday, reaching $121.25. The stock had a trading volume of 1,685,481 shares, compared to its average volume of 2,907,827. Blackstone Inc. has a fifty-two week low of $87.40 and a fifty-two week high of $133.56. The firm has a 50-day moving average of $122.46 and a 200-day moving average of $123.77. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $86.65 billion, a price-to-earnings ratio of 42.84, a price-to-earnings-growth ratio of 1.01 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The business’s revenue was up 166.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared 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 presently 117.31%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 219 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the transaction, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

About Blackstone

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.