Blackstone Inc. $BX Shares Purchased by Lido Advisors LLC

Lido Advisors LLC raised its position in Blackstone Inc. (NYSE:BX) by 49.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,180 shares of the asset manager’s stock after purchasing an additional 37,599 shares during the quarter. Lido Advisors LLC’s holdings in Blackstone were worth $19,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after purchasing an additional 1,494,796 shares during the period. Close Asset Management Ltd raised its position in shares of Blackstone by 16,035.1% during the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock worth $194,746,000 after buying an additional 1,133,197 shares in the last quarter. Whittier Trust Co. lifted its stake in shares of Blackstone by 2.1% in the 3rd quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager’s stock worth $58,337,000 after acquiring an additional 7,053 shares during the period. Natixis Advisors LLC increased its stake in shares of Blackstone by 20.4% during the third quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock valued at $143,582,000 after acquiring an additional 142,479 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Blackstone by 733.2% during the third quarter. Exchange Traded Concepts LLC now owns 13,715 shares of the asset manager’s stock worth $2,343,000 after purchasing an additional 12,069 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Up 0.3%

Shares of NYSE BX opened at $107.09 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a market cap of $79.48 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 0.85 and a beta of 1.80. The business has a fifty day simple moving average of $133.75 and a 200-day simple moving average of $149.83.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The firm had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the company earned $1.69 EPS. The business’s revenue for the quarter was up 41.4% compared to the same quarter last year. Sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a $1.49 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. This represents a $5.96 annualized dividend and a dividend yield of 5.6%. Blackstone’s payout ratio is currently 153.61%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BX shares. Jefferies Financial Group lowered their price target on Blackstone from $185.00 to $161.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Evercore decreased their target price on Blackstone from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Royal Bank Of Canada initiated coverage on shares of Blackstone in a research report on Monday, February 23rd. They issued an “outperform” rating and a $179.00 price target on the stock. Citigroup restated a “market outperform” rating on shares of Blackstone in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Blackstone from $158.00 to $122.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $165.86.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 1,146,789 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was acquired at an average cost of $26.16 per share, with a total value of $30,000,000.24. Following the transaction, the insider owned 16,716,249 shares of the company’s stock, valued at $437,297,073.84. This trade represents a 7.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.00% of the company’s stock.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.