Lido Advisors LLC Sells 266,619 Shares of Blackstone Inc. $BX

Lido Advisors LLC reduced its position in Blackstone Inc. (NYSE:BX) by 77.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 76,581 shares of the asset manager’s stock after selling 266,619 shares during the period. 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).

A number of other institutional investors also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in shares of Blackstone during the 1st quarter valued at about $25,000. Traub Capital Management LLC purchased a new stake in Blackstone during the second quarter valued at approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Blackstone during the 1st quarter worth $28,000. Anderson Financial Strategies LLC purchased a new stake in shares of Blackstone in the 1st quarter worth $28,000. Finally, Family CFO Inc bought a new stake in Blackstone during the second quarter valued at about $28,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BX shares. Dbs Bank raised Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. Morgan Stanley lifted their price target on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. The Goldman Sachs Group lifted their target price on shares of Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Finally, HSBC decreased their target price on Blackstone from $179.00 to $178.00 in a research note on Monday, October 27th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Blackstone has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Insiders Place Their Bets

In related news, Director James Breyer acquired 13,900 shares of Blackstone stock in a transaction on Tuesday, November 4th. The shares were bought at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the purchase, the director directly owned 68,906 shares of the company’s stock, valued at $9,912,817.16. The trade was a 25.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the stock in a transaction dated Monday, September 22nd. The stock was bought at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the purchase, the insider directly owned 7,506,209 shares in the company, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 2,950,751 shares of company stock worth $79,050,138. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.1%

Shares of Blackstone stock opened at $146.48 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $108.16 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $194.00. The business has a 50-day moving average price of $155.09 and a 200-day moving average price of $158.05.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS 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. Equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

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

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.