Tidal Investments LLC Has $2.27 Million Stake in Blackstone Inc. (NYSE:BX)

Tidal Investments LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 15.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 17,250 shares of the asset manager’s stock after acquiring an additional 2,358 shares during the period. Tidal Investments LLC’s holdings in Blackstone were worth $2,266,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Northwest Financial Advisors acquired a new stake in Blackstone during the 4th quarter worth approximately $25,000. Chilton Capital Management LLC bought a new stake in shares of Blackstone in the 1st quarter valued at about $26,000. Bourgeon Capital Management LLC grew its holdings in Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares during the period. Roble Belko & Company Inc acquired a new position in Blackstone during the fourth quarter worth approximately $30,000. Finally, Advantage Trust Co bought a new position in shares of Blackstone during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of Blackstone stock traded down $4.29 during midday trading on Friday, hitting $132.74. 657,751 shares of the company traded hands, compared to its average volume of 3,527,562. The stock has a market cap of $94.86 billion, a price-to-earnings ratio of 48.42, a PEG ratio of 1.22 and a beta of 1.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77. The firm’s fifty day moving average price is $126.96 and its 200-day moving average price is $125.55. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $145.16.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The firm’s revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 earnings per share. As a group, sell-side analysts forecast that Blackstone Inc. will post 4.58 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 29th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.47%. Blackstone’s dividend payout ratio is 115.90%.

Insider Buying and Selling

In related news, Director Ruth Porat bought 219 shares of Blackstone stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the acquisition, the director now directly owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the transaction, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ruth Porat bought 219 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the transaction, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BX. Piper Sandler raised their price objective on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. dropped their target price on Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, April 19th. UBS Group raised their price target on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JMP Securities restated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Finally, Morgan Stanley boosted their price target on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $127.56.

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.