Soltis Investment Advisors LLC Has $547,000 Holdings in Blackstone Inc. $BX

Soltis Investment Advisors LLC lowered its holdings in Blackstone Inc. (NYSE:BX) by 74.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,654 shares of the asset manager’s stock after selling 10,788 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Blackstone were worth $547,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 1248 Management LLC bought a new position in Blackstone in the 1st quarter worth approximately $25,000. Family CFO Inc bought a new stake in Blackstone during the 2nd quarter worth about $28,000. Wealth Preservation Advisors LLC bought a new position in shares of Blackstone in the 1st quarter valued at about $28,000. Anderson Financial Strategies LLC acquired a new position in Blackstone in the first quarter valued at approximately $28,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Blackstone in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BX shares. Bank of America reduced their price objective on shares of Blackstone from $200.00 to $199.00 in a research note on Friday, October 3rd. Barclays dropped their price objective on Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, October 24th. TD Cowen dropped their price target on Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Evercore ISI lowered their target price on Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Finally, Jefferies Financial Group reduced their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Eleven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and a consensus target price of $179.74.

Blackstone Stock Down 0.6%

NYSE:BX opened at $143.50 on Friday. The firm has a market capitalization of $105.77 billion, a price-to-earnings ratio of 41.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The stock’s 50 day moving average price is $166.31 and its two-hundred day moving average price is $156.99.

Blackstone (NYSE:BX) last issued its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be issued a dividend of $1.29 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, November 3rd. Blackstone’s dividend payout ratio is presently 147.43%.

Insider Activity

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were acquired at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the purchase, the insider owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 21,500 shares of Blackstone stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the sale, the insider owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 2,565,415 shares of company stock worth $69,037,981 and have sold 16,875,234 shares worth $136,847,628. 1.00% of the stock is currently owned by corporate insiders.

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.