Blackstone Inc. (NYSE:BX) Shares Acquired by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. raised its holdings in Blackstone Inc. (NYSE:BX) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,752 shares of the asset manager’s stock after purchasing an additional 356 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Blackstone were worth $16,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BX. Bangor Savings Bank raised its position in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter worth about $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $30,000. Berbice Capital Management LLC acquired a new stake in Blackstone during the 4th quarter valued at $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Blackstone in the fourth quarter worth $34,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

Blackstone stock opened at $147.67 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $107.72 billion, a P/E ratio of 40.68, a PEG ratio of 1.07 and a beta of 1.55. The firm has a fifty day moving average of $165.35 and a 200-day moving average of $167.26. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Monday, February 10th. Blackstone’s payout ratio is presently 158.68%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. UBS Group raised shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Monday. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Barclays restated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $172.38.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.