Clear Creek Financial Management LLC Has $983,000 Position in Blackstone Inc. $BX

Clear Creek Financial Management LLC raised its position in Blackstone Inc. (NYSE:BX) by 24.5% in the second quarter, HoldingsChannel.com reports. The fund owned 6,573 shares of the asset manager’s stock after purchasing an additional 1,294 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Blackstone were worth $983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC lifted its stake in shares of Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after buying an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after buying an additional 1,102,949 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after buying an additional 742,829 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Blackstone by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock worth $599,872,000 after buying an additional 182,526 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Blackstone by 2.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock worth $581,886,000 after acquiring an additional 117,724 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent research reports. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. Barclays lowered their price target on shares of Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Jefferies Financial Group lowered their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday. JMP Securities raised their target price on shares of Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group raised their target price on shares of Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.00.

Insider Activity

In other news, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the transaction, the insider owned 737,248 shares in the company, valued at approximately $128,015,742.72. The trade was a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 113,000 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the transaction, the director owned 695,757 shares in the company, valued at $122,237,547.33. This trade represents a 13.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by insiders.

Blackstone Trading Down 1.2%

Shares of Blackstone stock opened at $160.52 on Friday. The firm has a market capitalization of $118.32 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 1.32 and a beta of 1.77. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $172.86 and its 200 day moving average is $154.15. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. Equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 4th. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is presently 110.75%.

Blackstone Company 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.