CreativeOne Wealth LLC Has $3.10 Million Stock Position in Blackstone Inc. (NYSE:BX)

CreativeOne Wealth LLC grew its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 59.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,965 shares of the asset manager's stock after buying an additional 6,706 shares during the period. CreativeOne Wealth LLC's holdings in Blackstone were worth $3,098,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Avidian Wealth Enterprises LLC grew its holdings in Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock worth $2,790,000 after acquiring an additional 59 shares during the period. McIlrath & Eck LLC raised its position in shares of Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager's stock worth $156,000 after purchasing an additional 62 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Blackstone by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock valued at $1,970,000 after buying an additional 62 shares during the period. McAdam LLC raised its stake in shares of Blackstone by 3.9% in the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock valued at $291,000 after purchasing an additional 63 shares during the period. Finally, CENTRAL TRUST Co lifted its stake in Blackstone by 0.6% in the 4th quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock valued at $1,903,000 after acquiring an additional 63 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on BX shares. StockNews.com cut shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price target for the company in a research note on Tuesday, April 8th. Wells Fargo & Company cut their price objective on Blackstone from $160.00 to $139.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. TD Cowen cut their price target on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group upgraded shares of Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price objective on the stock in a research note on Monday, March 17th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $155.72.

Insiders Place Their Bets

In other news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company's stock.

Blackstone Stock Performance

Shares of NYSE:BX traded up $0.88 on Friday, reaching $130.26. 4,576,278 shares of the company's stock were exchanged, compared to its average volume of 3,711,992. The company has a market capitalization of $95.01 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 1.07 and a beta of 1.61. The company has a fifty day moving average of $145.13 and a 200-day moving average of $164.76. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.86%. Blackstone's dividend payout ratio (DPR) is currently 158.68%.

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.