Creekmur Asset Management LLC Has $347,000 Holdings in Blackstone Inc. (NYSE:BX)

Creekmur Asset Management LLC decreased its position in Blackstone Inc. (NYSE:BX) by 4.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,480 shares of the asset manager’s stock after selling 120 shares during the period. Creekmur Asset Management LLC’s holdings in Blackstone were worth $347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BX. Vanguard Group Inc. lifted its stake in Blackstone by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after purchasing an additional 889,286 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Blackstone by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager’s stock valued at $2,637,266,000 after acquiring an additional 444,887 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Blackstone by 10.8% in the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager’s stock valued at $1,209,707,000 after acquiring an additional 681,512 shares during the last quarter. Invesco Ltd. lifted its holdings in Blackstone by 6.6% during the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager’s stock worth $1,032,400,000 after buying an additional 371,677 shares during the period. Finally, Norges Bank acquired a new position in Blackstone during the 4th quarter worth about $974,448,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the purchase, the insider directly owned 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 25,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the sale, the insider owned 475,336 shares of the company’s stock, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BX shares. TD Cowen decreased their target price on Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. JMP Securities lifted their target price on shares of Blackstone from $165.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Monday. Wells Fargo & Company increased their price objective on Blackstone from $153.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Cowen reiterated a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Finally, UBS Group cut their price objective on Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $162.18.

Blackstone Trading Down 0.1%

Shares of NYSE:BX opened at $172.40 on Friday. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The business’s fifty day simple moving average is $146.01 and its 200-day simple moving average is $150.73. The company has a market capitalization of $125.79 billion, a PE ratio of 51.90, a P/E/G ratio of 1.50 and a beta of 1.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a net margin of 19.83% and a return on equity of 19.84%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

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.