Dorsey & Whitney Trust CO LLC Raises Stake in Blackstone Inc. (NYSE:BX)

Dorsey & Whitney Trust CO LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 50.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,848 shares of the asset manager’s stock after buying an additional 1,622 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Blackstone were worth $836,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Glen Eagle Advisors LLC boosted its stake in Blackstone by 1.8% during the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after buying an additional 59 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after buying an additional 59 shares during the period. Investmark Advisory Group LLC boosted its stake in Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after buying an additional 60 shares during the period. McIlrath & Eck LLC boosted its stake in Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after buying an additional 62 shares during the period. Finally, McAdam LLC boosted its stake in shares of Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BX shares. Keefe, Bruyette & Woods upped their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Citigroup restated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $172.38.

Blackstone Stock Performance

BX opened at $145.12 on Monday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $105.86 billion, a PE ratio of 39.98, a P/E/G ratio of 1.07 and a beta of 1.55. The firm has a 50 day moving average of $169.33 and a two-hundred day moving average of $167.23.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.97%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

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.