Blackstone Inc. (NYSE:BX) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.8% in the 4th quarter, HoldingsChannel reports. The fund owned 321,846 shares of the asset manager’s stock after buying an additional 2,541 shares during the quarter. Blackstone accounts for approximately 0.7% of Whittier Trust Co.’s investment portfolio, making the stock its 24th biggest holding. Whittier Trust Co.’s holdings in Blackstone were worth $55,492,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Blackstone during the 4th quarter worth approximately $316,257,000. Proficio Capital Partners LLC increased its holdings in shares of Blackstone by 2,057.7% in the 4th quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock valued at $145,653,000 after acquiring an additional 805,604 shares during the period. Jennison Associates LLC boosted its stake in Blackstone by 111.1% during the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after purchasing an additional 512,165 shares during the period. Amundi increased its stake in Blackstone by 51.0% in the fourth quarter. Amundi now owns 1,430,555 shares of the asset manager’s stock valued at $248,723,000 after purchasing an additional 483,362 shares during the period. Finally, Castleark Management LLC acquired a new stake in shares of Blackstone during the third quarter worth about $67,472,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE:BX opened at $149.69 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The firm has a market capitalization of $109.19 billion, a PE ratio of 41.24, a P/E/G ratio of 1.07 and a beta of 1.55. The business has a 50-day moving average of $164.36 and a two-hundred day moving average of $167.16.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating 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%. As a group, research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a dividend of $1.44 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analyst Upgrades and Downgrades

Several research firms have commented on BX. UBS Group raised Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.38.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.

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.