Doliver Advisors LP Acquires Shares of 1,440 Blackstone Inc. (NYSE:BX)

Doliver Advisors LP bought a new stake in Blackstone Inc. (NYSE:BX) during the 4th quarter, HoldingsChannel reports. The fund bought 1,440 shares of the asset manager’s stock, valued at approximately $248,000.

Several other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in Blackstone by 8.8% in the fourth quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager’s stock valued at $10,053,000 after acquiring an additional 4,688 shares during the period. First Citizens Financial Corp purchased a new stake in Blackstone during the fourth quarter worth about $267,000. GAMMA Investing LLC grew its position in Blackstone by 10.5% during the fourth quarter. GAMMA Investing LLC now owns 8,992 shares of the asset manager’s stock worth $1,550,000 after buying an additional 855 shares during the period. Versant Capital Management Inc lifted its position in shares of Blackstone by 7.8% during the 4th quarter. Versant Capital Management Inc now owns 2,586 shares of the asset manager’s stock valued at $446,000 after acquiring an additional 188 shares during the period. Finally, Independent Solutions Wealth Management LLC grew its holdings in shares of Blackstone by 3.0% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 14,504 shares of the asset manager’s stock worth $2,221,000 after acquiring an additional 425 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BX shares. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Bank of America lifted their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. Piper Sandler increased their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $171.00.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was 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 owns 387,137 shares of the company’s stock, valued at $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 available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Down 0.6 %

Shares of NYSE BX opened at $174.85 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $126.24 billion, a PE ratio of 60.09, a P/E/G ratio of 1.63 and a beta of 1.53. The firm has a fifty day moving average of $180.59 and a 200-day moving average of $155.66. Blackstone Inc. has a 52-week low of $114.88 and a 52-week high of $200.96.

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

Blackstone Increases Dividend

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

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.