CreativeOne Wealth LLC Buys 4,798 Shares of Blackstone Inc. $BX

Key Points

• CreativeOne Wealth LLC increased its stake in Blackstone Inc. by 26.7% during the first quarter, acquiring an additional 4,798 shares, bringing its total holdings to 22,763 shares valued at approximately $3.18 million.
• Blackstone Inc. reported $1.21 earnings per share for the last quarter, exceeding analysts' expectations, and experienced 32.7% year-over-year revenue growth with total revenue of $3.07 billion.
• The company declared a quarterly dividend of $1.03 per share, marking an increase from the previous dividend of $0.93, providing a 2.4% dividend yield to shareholders.

CreativeOne Wealth LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 26.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,763 shares of the asset manager's stock after buying an additional 4,798 shares during the quarter. CreativeOne Wealth LLC's holdings in Blackstone were worth $3,182,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after purchasing an additional 2,035 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Blackstone by 287.0% during the fourth quarter. AQR Capital Management LLC now owns 71,007 shares of the asset manager's stock valued at $12,243,000 after purchasing an additional 52,659 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Blackstone by 534.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 34,901 shares of the asset manager's stock valued at $6,018,000 after purchasing an additional 29,398 shares during the last quarter. Utah Retirement Systems lifted its holdings in Blackstone by 2.5% during the fourth quarter. Utah Retirement Systems now owns 119,700 shares of the asset manager's stock valued at $20,639,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Blackstone by 1.9% during the fourth quarter. Comerica Bank now owns 228,331 shares of the asset manager's stock valued at $39,369,000 after purchasing an additional 4,181 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Blackstone Trading Up 0.2%

Shares of BX opened at $171.74 on Thursday. The firm's 50 day simple moving average is $163.73 and its 200 day simple moving average is $149.72. The company has a market capitalization of $126.59 billion, a P/E ratio of 46.17, a P/E/G ratio of 1.39 and a beta of 1.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. Blackstone's quarterly revenue was up 32.7% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.4%. This is a boost from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone's payout ratio is 110.75%.

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total transaction of $104,478,673.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 100,000 shares of Blackstone stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $167.36, for a total transaction of $16,736,000.00. Following the transaction, the director directly owned 808,757 shares in the company, valued at $135,353,571.52. This trade represents a 11.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 1,189,806 shares of company stock valued at $30,046,627 and sold 16,850,134 shares valued at $131,641,986. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Blackstone from $153.00 to $167.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. The Goldman Sachs Group reissued a "neutral" rating on shares of Blackstone in a report on Friday, July 25th. Barclays increased their price target on shares of Blackstone from $168.00 to $181.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. Citigroup reissued a "market perform" rating on shares of Blackstone in a report on Saturday, July 19th. Finally, Piper Sandler increased their price target on shares of Blackstone from $157.00 to $181.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $172.38.

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.

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