Tidal Investments LLC Purchases 11,202 Shares of Blackstone Inc. (NYSE:BX)

Tidal Investments LLC increased its position in Blackstone Inc. (NYSE:BX) by 66.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 27,996 shares of the asset manager’s stock after acquiring an additional 11,202 shares during the quarter. Tidal Investments LLC’s holdings in Blackstone were worth $4,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC grew its stake in Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after buying an additional 59 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock valued at $1,970,000 after purchasing an additional 62 shares during the period. McAdam LLC lifted its holdings in shares of Blackstone by 3.9% in the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after buying an additional 63 shares in the last quarter. CENTRAL TRUST Co grew its stake in Blackstone by 0.6% during the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager’s stock valued at $1,903,000 after acquiring an additional 63 shares in the last quarter. Finally, Catalina Capital Group LLC lifted its stake in Blackstone by 3.2% in the 4th quarter. Catalina Capital Group LLC now owns 2,117 shares of the asset manager’s stock worth $365,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

BX opened at $144.10 on Wednesday. The stock’s 50 day moving average price is $137.50 and its 200-day moving average price is $161.16. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The stock has a market capitalization of $105.14 billion, a PE ratio of 39.70, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the company posted $0.98 earnings per share. On average, equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio is currently 112.05%.

Analysts Set New Price Targets

BX has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their target price on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Piper Sandler cut their price objective on Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Bank of America lowered their target price on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Finally, Wells Fargo & Company decreased their price target on shares of Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $154.82.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat acquired 237 shares of the business’s stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the completion of the acquisition, the director now owns 37,067 shares in the company, valued at $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the transaction, the insider now owns 475,336 shares of the company’s stock, valued at $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.