Blackstone Inc. (NYSE:BX) Shares Sold by Clear Creek Financial Management LLC

04 Nov 2024, 07:21 by Scott Moore · The Cerbat Gem

Clear Creek Financial Management LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,574 shares of the asset manager’s stock after selling 89 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Blackstone were worth $700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after purchasing an additional 7,692 shares in the last quarter. Blue Trust Inc. increased its stake in Blackstone by 936.2% during the 2nd quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after buying an additional 5,383 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Blackstone in the 3rd quarter worth approximately $557,000. Scientech Research LLC acquired a new position in shares of Blackstone during the second quarter valued at approximately $1,364,000. Finally, EverSource Wealth Advisors LLC lifted its position in Blackstone by 11.3% in the second quarter. EverSource Wealth Advisors LLC now owns 54,159 shares of the asset manager’s stock worth $6,705,000 after purchasing an additional 5,479 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 0.2 %

NYSE:BX opened at $168.14 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The company has a market capitalization of $121.07 billion, a P/E ratio of 57.78, a P/E/G ratio of 1.44 and a beta of 1.49. Blackstone Inc. has a 52 week low of $96.15 and a 52 week high of $175.94. The stock’s 50 day moving average price is $153.90 and its 200 day moving average price is $136.36.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BX shares. BMO Capital Markets upped their price objective on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Bank of America raised their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Citigroup boosted their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, UBS Group upped their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus price target of $155.38.

Check Out Our Latest Stock Analysis on Blackstone

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