Tidal Investments LLC Lowers Position in Blackstone Inc. (NYSE:BX)

Tidal Investments LLC cut its position in shares of Blackstone Inc. (NYSE:BX) by 54.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,794 shares of the asset manager’s stock after selling 19,892 shares during the period. Tidal Investments LLC’s holdings in Blackstone were worth $2,572,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lantz Financial LLC increased its position in shares of Blackstone by 11.7% in the second quarter. Lantz Financial LLC now owns 2,762 shares of the asset manager’s stock valued at $342,000 after buying an additional 290 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Blackstone by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 16,130 shares of the asset manager’s stock worth $1,997,000 after acquiring an additional 470 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Blackstone by 8.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 21,934 shares of the asset manager’s stock valued at $2,715,000 after purchasing an additional 1,668 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Blackstone by 9.1% during the second quarter. First Horizon Advisors Inc. now owns 3,381 shares of the asset manager’s stock worth $419,000 after purchasing an additional 282 shares in the last quarter. Finally, Dakota Wealth Management lifted its stake in Blackstone by 132.1% in the 2nd quarter. Dakota Wealth Management now owns 31,741 shares of the asset manager’s stock valued at $3,930,000 after buying an additional 18,067 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Redburn Atlantic began coverage on Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price for the company. Bank of America lifted their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Barclays raised their price target on shares of Blackstone from $174.00 to $199.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Wells Fargo & Company downgraded shares of Blackstone from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $188.00 to $195.00 in a report on Thursday. Finally, UBS Group boosted their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $164.69.

Blackstone Stock Down 1.0 %

Blackstone stock opened at $188.42 on Monday. Blackstone Inc. has a fifty-two week low of $114.88 and a fifty-two week high of $200.96. The firm has a 50 day moving average price of $176.14 and a 200 day moving average price of $149.58. The company has a market capitalization of $136.04 billion, a PE ratio of 64.75, a price-to-earnings-growth ratio of 1.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Research analysts expect that Blackstone Inc. will post 4.43 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 1.83%. Blackstone’s dividend payout ratio is 118.21%.

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.