Clear Creek Financial Management LLC Has $700,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Clear Creek Financial Management LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,574 shares of the asset manager’s stock after selling 89 shares during the period. Clear Creek Financial Management LLC’s holdings in Blackstone were worth $700,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Princeton Global Asset Management LLC lifted its holdings in Blackstone by 1.8% during the 3rd quarter. Princeton Global Asset Management LLC now owns 102,307 shares of the asset manager’s stock valued at $15,666,000 after purchasing an additional 1,855 shares during the last quarter. Argonautica Private Wealth Management Inc. raised its stake in shares of Blackstone by 0.8% in the third quarter. Argonautica Private Wealth Management Inc. now owns 36,494 shares of the asset manager’s stock valued at $5,588,000 after acquiring an additional 277 shares during the last quarter. First Interstate Bank grew its position in Blackstone by 1.0% during the 3rd quarter. First Interstate Bank now owns 37,414 shares of the asset manager’s stock worth $5,729,000 after acquiring an additional 379 shares during the last quarter. Silvant Capital Management LLC bought a new position in Blackstone in the 3rd quarter valued at $48,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Blackstone by 45.9% during the third quarter. Farther Finance Advisors LLC now owns 13,971 shares of the asset manager’s stock worth $2,139,000 after purchasing an additional 4,393 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on BX. Redburn Atlantic started coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective on the stock. Citigroup boosted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley boosted their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. BMO Capital Markets lifted their price objective on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $155.38.

Blackstone Price Performance

BX opened at $168.14 on Monday. The company has a fifty day simple moving average of $153.90 and a 200 day simple moving average of $136.36. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap 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 12 month low of $96.15 and a 12 month high of $175.94.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.05%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 35,000 shares of Blackstone 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 sale, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.