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

Trust Co. of Toledo NA OH grew its stake in Blackstone Inc. (NYSE:BX) by 7.5% during the fourth quarter, HoldingsChannel reports. The firm owned 20,616 shares of the asset manager’s stock after buying an additional 1,432 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Blackstone were worth $3,555,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bangor Savings Bank grew its position in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the last quarter. West Financial Advisors LLC acquired a new position in shares of Blackstone in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. raised its holdings in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the last quarter. Hazlett Burt & Watson Inc. grew 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 worth $43,000 after acquiring an additional 101 shares during the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of 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 purchasing an additional 195 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on BX. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. BMO Capital Markets increased their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. UBS Group upped their price objective 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 upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $170.56.

Blackstone Stock Performance

Shares of NYSE BX traded up $0.09 during midday trading on Monday, reaching $164.94. The company’s stock had a trading volume of 856,517 shares, compared to its average volume of 2,418,909. The firm has a 50 day moving average price of $180.73 and a 200-day moving average price of $156.98. The stock has a market capitalization of $119.09 billion, a P/E ratio of 56.68, a PEG ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 12-month low of $114.88 and a 12-month high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, equities analysts predict that Blackstone Inc. will post 4.43 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a $0.86 dividend. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.09%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is 118.21%.

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 transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, 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 SEC, which is available at this link. 1.00% of the stock is owned by 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.