Tidal Investments LLC Has $4.83 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Tidal Investments LLC lifted its stake in Blackstone Inc. (NYSE:BX - Free Report) by 66.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,996 shares of the asset manager's stock after buying an additional 11,202 shares during the period. Tidal Investments LLC's holdings in Blackstone were worth $4,827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trace Wealth Advisors LLC acquired a new position in shares of Blackstone in the 4th quarter worth approximately $431,000. Strategic Wealth Partners Ltd. raised its holdings in shares of Blackstone by 9.0% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 13,247 shares of the asset manager's stock valued at $2,126,000 after buying an additional 1,090 shares during the last quarter. SurgoCap Partners LP grew its stake in shares of Blackstone by 20.1% during the fourth quarter. SurgoCap Partners LP now owns 961,828 shares of the asset manager's stock valued at $165,838,000 after purchasing an additional 161,284 shares during the last quarter. Shay Capital LLC acquired a new stake in shares of Blackstone in the 4th quarter valued at $207,000. Finally, SGL Investment Advisors Inc. bought a new stake in Blackstone during the 4th quarter worth about $233,000. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BX shares. Keefe, Bruyette & Woods dropped their price objective on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company raised their price objective on Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a research note on Friday. Cowen restated a "buy" rating on shares of Blackstone in a report on Monday, April 21st. UBS Group decreased their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Barclays lifted their price target on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $155.65.

Insider Activity at Blackstone

In other news, Director Ruth Porat acquired 237 shares of Blackstone stock in a transaction that occurred 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 transaction, the director now directly owns 37,067 shares of the company's stock, valued at approximately $5,053,344.11. The trade was a 0.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the purchase, the insider now directly owns 1,666,667 shares of the company's stock, valued at approximately $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

Blackstone stock traded down $0.70 during mid-day trading on Monday, hitting $136.23. 2,608,968 shares of the company's stock traded hands, compared to its average volume of 3,794,288. The stock has a market cap of $99.40 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 1.07 and a beta of 1.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $137.02 and a two-hundred day simple moving average of $160.33. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period in the prior year, the company earned $0.98 earnings per share. On average, research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Monday, April 28th. Blackstone's dividend payout ratio is presently 112.05%.

About Blackstone

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.