Doliver Advisors LP Takes $248,000 Position in Blackstone Inc. (NYSE:BX)

Doliver Advisors LP acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,440 shares of the asset manager’s stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp raised its holdings in shares of Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Geode Capital Management LLC raised its stake in Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares during the last quarter. Legal & General Group Plc raised its position in shares of Blackstone by 2.3% in the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after buying an additional 141,616 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after buying an additional 4,173,971 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Blackstone Trading Down 0.6 %

BX opened at $174.85 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $126.24 billion, a price-to-earnings ratio of 60.09, a PEG ratio of 1.63 and a beta of 1.53. The business has a fifty day moving average price of $180.59 and a 200 day moving average price of $155.66. Blackstone Inc. has a 12 month low of $114.88 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Sell-side analysts expect that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s payout ratio is presently 118.21%.

Wall Street Analyst Weigh In

BX has been the topic of a number of research reports. Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Citigroup upped their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. Finally, BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $171.00.

Blackstone Company 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.