Lido Advisors LLC Decreases Stock Position in Blackstone Inc. $BX

Lido Advisors LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 77.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,581 shares of the asset manager’s stock after selling 266,619 shares during the quarter. Lido Advisors LLC’s holdings in Blackstone were worth $11,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after buying an additional 2,035 shares during the period. Baker Avenue Asset Management LP raised its stake in shares of Blackstone by 36.2% during the first quarter. Baker Avenue Asset Management LP now owns 2,653 shares of the asset manager’s stock valued at $371,000 after acquiring an additional 705 shares during the last quarter. TIAA Trust National Association grew its stake in shares of Blackstone by 37.6% in the first quarter. TIAA Trust National Association now owns 144,956 shares of the asset manager’s stock worth $20,262,000 after purchasing an additional 39,587 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Blackstone by 2.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,184,258 shares of the asset manager’s stock valued at $165,536,000 after purchasing an additional 29,692 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Blackstone in the 1st quarter worth approximately $271,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 324 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $146.92 per share, with a total value of $47,602.08. Following the transaction, the director owned 39,077 shares of the company’s stock, valued at $5,741,192.84. The trade was a 0.84% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. The trade was a 13.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders purchased 2,950,751 shares of company stock worth $79,050,138 in the last 90 days. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BX shares. Bank of America decreased their target price on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. The Goldman Sachs Group upped their price objective on shares of Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Jefferies Financial Group reduced their price target on shares of Blackstone from $199.00 to $187.00 in a research report on Monday, November 10th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Finally, BNP Paribas Exane reduced their target price on Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Eleven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

Blackstone Price Performance

Shares of NYSE BX opened at $146.48 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.74 and a current ratio of 0.75. The company has a 50 day simple moving average of $155.09 and a two-hundred day simple moving average of $158.05. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $194.00. The company has a market capitalization of $108.16 billion, a price-to-earnings ratio of 41.85, a P/E/G ratio of 1.18 and a beta of 1.76.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The company had revenue of $2.49 billion during the quarter. Analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio (DPR) is presently 147.43%.

Blackstone 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.