Blackstone Inc. $BX Shares Purchased by Whittier Trust Co.

Key Points

• Whittier Trust Co. increased its stake in Blackstone Inc. by 5.9%, owning 339,265 shares valued at approximately $50.75 million after adding 19,052 shares in the last quarter.
• The company reported earnings of $0.97 per share and revenue of $2.49 billion for the most recent quarter, with analysts forecasting a total of $5.87 EPS for the fiscal year.
• Blackstone announced a quarterly dividend increase from $0.93 to $1.03, resulting in a dividend yield of 2.6% and a payout ratio of 110.75%.

Whittier Trust Co. boosted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 339,265 shares of the asset manager's stock after acquiring an additional 19,052 shares during the quarter. Whittier Trust Co.'s holdings in Blackstone were worth $50,747,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new stake in Blackstone in the 1st quarter valued at approximately $25,000. von Borstel & Associates Inc. bought a new position in Blackstone during the 1st quarter valued at $28,000. Wealth Preservation Advisors LLC bought a new position in Blackstone during the 1st quarter valued at $28,000. Anderson Financial Strategies LLC bought a new position in Blackstone during the 1st quarter valued at $28,000. Finally, Family CFO Inc bought a new position in Blackstone during the 2nd quarter valued at $28,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

BX opened at $160.57 on Tuesday. The stock has a fifty day moving average of $171.47 and a 200-day moving average of $155.23. The firm has a market capitalization of $118.36 billion, a P/E ratio of 43.16, a PEG ratio of 1.27 and a beta of 1.77. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. Equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were issued a $1.03 dividend. The ex-dividend date was Monday, August 4th. This is an increase from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. Blackstone's dividend payout ratio is currently 110.75%.

Insider Buying and Selling

In related news, insider John G. Finley sold 21,500 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the sale, the insider directly owned 453,836 shares in the company, valued at approximately $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vikrant Sawhney sold 50,850 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the sale, the insider owned 737,248 shares of the company's stock, valued at approximately $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have bought 2,538,345 shares of company stock valued at $65,046,628 and have sold 16,984,634 shares valued at $155,181,346. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Dbs Bank raised Blackstone to a "moderate buy" rating in a research note on Tuesday, August 12th. TD Cowen decreased their price target on Blackstone from $215.00 to $208.00 and set a "buy" rating for the company in a research note on Wednesday, October 8th. Evercore ISI raised their price objective on Blackstone from $165.00 to $197.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Citigroup reduced their price objective on Blackstone from $185.00 to $170.00 and set a "neutral" rating for the company in a research note on Monday, October 13th. Finally, BNP Paribas Exane raised their price objective on Blackstone from $166.00 to $178.00 and gave the stock a "neutral" rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $180.26.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.