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

Tidal Investments LLC lessened its stake in Blackstone Inc. (NYSE:BX - Free Report) by 54.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of BX. EdgeRock Capital LLC acquired a new position in shares of Blackstone during the second quarter valued at about $27,000. West Financial Advisors LLC purchased a new stake in shares of Blackstone during the third quarter valued at $27,000. Ridgewood Investments LLC purchased a new position in Blackstone in the 2nd quarter worth $31,000. Hantz Financial Services Inc. purchased a new position in shares of Blackstone in the second quarter worth about $37,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Blackstone in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Up 0.0 %

Shares of NYSE BX traded up $0.03 during midday trading on Monday, hitting $188.45. 2,945,492 shares of the company's stock were exchanged, compared to its average volume of 3,394,978. The company has a market cap of $136.06 billion, a PE ratio of 64.75, a P/E/G ratio of 1.63 and a beta of 1.51. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm's fifty day simple moving average is $176.14 and its 200-day simple moving average is $149.58.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data 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 company 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 predict that Blackstone Inc. will post 4.43 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.83%. This is a boost from Blackstone's previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone's dividend payout ratio (DPR) is presently 118.21%.

Analyst Upgrades and Downgrades

BX has been the subject of several analyst reports. Redburn Atlantic initiated coverage on Blackstone in a report on Tuesday, August 27th. They issued a "neutral" rating and a $134.00 price objective for the company. Citigroup raised their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Bank of America raised their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Piper Sandler lowered shares of Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 target price on the stock. in a research note on Wednesday, October 9th. Finally, Cowen reiterated a "hold" rating on shares of Blackstone in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $164.69.

Insider Activity

In related news, Director Joseph Baratta sold 116,448 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 42,249 shares of the company'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 value of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This 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.

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.