Trust Co. of Toledo NA OH Has $3.56 Million Stake in Blackstone Inc. (NYSE:BX)

Trust Co. of Toledo NA OH lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 7.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,616 shares of the asset manager’s stock after acquiring an additional 1,432 shares during the period. Trust Co. of Toledo NA OH’s holdings in Blackstone were worth $3,555,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BX. Bangor Savings Bank grew its stake in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. West Financial Advisors LLC bought a new position in shares of Blackstone during the third quarter valued at $27,000. Raleigh Capital Management Inc. grew its holdings in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in Blackstone by 57.7% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 276 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 101 shares during the last quarter. Finally, ORG Partners LLC grew its stake in Blackstone by 232.1% during the fourth quarter. ORG Partners LLC now owns 279 shares of the asset manager’s stock worth $48,000 after buying an additional 195 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.1 %

BX traded up $0.09 during trading hours on Monday, hitting $164.94. 856,517 shares of the company’s stock were exchanged, compared to its average volume of 2,418,909. The stock’s 50-day moving average is $180.73 and its two-hundred day moving average is $156.98. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 1-year low of $114.88 and a 1-year high of $200.96. The stock has a market cap of $119.09 billion, a price-to-earnings ratio of 56.68, a PEG ratio of 1.63 and a beta of 1.53.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion during 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%. Sell-side analysts predict that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 2.09%. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the business’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 owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their target price on Blackstone from $169.00 to $175.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $170.56.

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.