Trust Co. of Toledo NA OH Buys 2,936 Shares of Blackstone Inc. (NYSE:BX)

Trust Co. of Toledo NA OH boosted its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 14.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,552 shares of the asset manager's stock after purchasing an additional 2,936 shares during the quarter. Trust Co. of Toledo NA OH's holdings in Blackstone were worth $3,292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Blackstone by 16.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 168,201 shares of the asset manager's stock worth $29,225,000 after purchasing an additional 23,420 shares in the last quarter. Van ECK Associates Corp increased its stake in Blackstone by 22.2% during the 4th quarter. Van ECK Associates Corp now owns 24,563 shares of the asset manager's stock valued at $4,235,000 after purchasing an additional 4,469 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in shares of Blackstone by 20.8% in the fourth quarter. Catalyst Financial Partners LLC now owns 1,994 shares of the asset manager's stock valued at $344,000 after buying an additional 344 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in shares of Blackstone by 27.4% during the fourth quarter. Vontobel Holding Ltd. now owns 35,262 shares of the asset manager's stock valued at $6,080,000 after buying an additional 7,574 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BX shares. Wells Fargo & Company lifted their price target on Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Keefe, Bruyette & Woods cut their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley dropped their price objective on Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Cowen reaffirmed a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Finally, Piper Sandler dropped their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $155.65.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the sale, the insider now owns 475,336 shares of the company's stock, valued at approximately $65,819,775.92. This represents a 5.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business's stock in a transaction on Thursday, May 1st. The stock was purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the acquisition, the insider now owns 1,666,667 shares in the company, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Stock Performance

Shares of NYSE:BX traded down $4.42 during mid-day trading on Friday, reaching $136.37. The company had a trading volume of 3,021,337 shares, compared to its average volume of 3,806,703. The company's 50-day moving average price is $136.51 and its 200-day moving average price is $155.62. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The firm has a market cap of $99.50 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 1.07 and a beta of 1.65. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's payout ratio is currently 112.05%.

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.