Lido Advisors LLC Raises Position in Blackstone Inc. (NYSE:BX)

Lido Advisors LLC lifted its position in Blackstone Inc. (NYSE:BX - Free Report) by 6.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 287,967 shares of the asset manager's stock after acquiring an additional 16,558 shares during the period. Lido Advisors LLC's holdings in Blackstone were worth $49,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BX. Avidian Wealth Enterprises LLC lifted its stake in shares of Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock worth $2,790,000 after buying an additional 59 shares in the last quarter. McIlrath & Eck LLC lifted its position in Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager's stock valued at $156,000 after purchasing an additional 62 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its position in Blackstone by 0.5% during the fourth 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 raised its position in 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 acquiring an additional 63 shares during the period. Finally, CENTRAL TRUST Co raised its position in Blackstone by 0.6% in the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock worth $1,903,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Price Performance

Shares of NYSE:BX traded down $1.74 during midday trading on Wednesday, reaching $131.80. 5,750,406 shares of the company's stock traded hands, compared to its average volume of 3,769,228. The company has a fifty day simple moving average of $139.76 and a two-hundred day simple moving average of $163.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The company has a market cap of $96.14 billion, a P/E ratio of 36.31, a PEG ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

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

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Monday, April 28th. Blackstone's payout ratio is presently 112.05%.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat bought 301 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now directly owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. 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 research report on Tuesday, April 8th. Citigroup reduced their price objective on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Barclays increased their price objective on shares of Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price for the company in a research note on Tuesday, April 8th. Finally, StockNews.com downgraded Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $154.82.

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.