Private Trust Co. NA Has $2.40 Million Stock Holdings in Blackstone Inc. $BX

Key Points

• Private Trust Co. NA increased its holdings in Blackstone Inc. by 23.7% in Q2, owning a total of 16,072 shares valued at approximately $2.40 million.
• Multiple institutional investors, including Kingstone Capital Partners and Vanguard Group, have significantly raised their stakes in Blackstone, with 70% of the stock held by institutional investors.
• Blackstone announced a quarterly dividend increase to $1.03 per share, reflecting an annualized dividend of $4.12, despite having a dividend payout ratio of 110.75%.

Private Trust Co. NA increased its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 23.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,072 shares of the asset manager's stock after buying an additional 3,084 shares during the quarter. Private Trust Co. NA's holdings in Blackstone were worth $2,404,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its stake in Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager's stock worth $10,490,411,000 after buying an additional 70,118,948 shares during the period. Vanguard Group Inc. raised its stake in Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager's stock worth $9,504,702,000 after buying an additional 1,102,949 shares during the period. Goldman Sachs Group Inc. raised its stake in Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager's stock worth $739,761,000 after buying an additional 742,829 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Blackstone by 4.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager's stock worth $599,872,000 after buying an additional 182,526 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Blackstone by 2.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager's stock worth $581,886,000 after purchasing an additional 117,724 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on BX shares. Wells Fargo & Company boosted their price objective on Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods decreased their price objective on Blackstone from $180.00 to $171.00 and set a "market perform" rating for the company in a report on Monday. Piper Sandler decreased their price objective on Blackstone from $181.00 to $173.00 and set a "neutral" rating for the company in a report on Thursday, October 9th. Jefferies Financial Group decreased their price objective on Blackstone from $207.00 to $199.00 and set a "buy" rating for the company in a report on Tuesday, October 7th. Finally, The Goldman Sachs Group upped their target price on Blackstone from $172.00 to $173.00 and gave the company a "neutral" rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $180.26.

Insider Buying and Selling at Blackstone

In other Blackstone news, 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 transaction of $8,829,594.00. Following the completion of the transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 113,000 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the sale, the director owned 695,757 shares in the company, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

BX stock opened at $158.01 on Friday. The firm has a market cap of $116.47 billion, a PE ratio of 42.48, a P/E/G ratio of 1.33 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $171.91 and a 200-day moving average of $154.68. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The business had revenue of $2.49 billion during the quarter. As a group, sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.6%. This is a positive change from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Monday, August 4th. Blackstone's dividend payout ratio is currently 110.75%.

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.

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