Trust Co. of Toledo NA OH Purchases 727 Shares of Blackstone Inc. $BX

Trust Co. of Toledo NA OH raised its position in shares of Blackstone Inc. (NYSE:BX) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,279 shares of the asset manager’s stock after purchasing an additional 727 shares during the period. Trust Co. of Toledo NA OH’s holdings in Blackstone were worth $3,632,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Mattern Wealth Management LLC raised its holdings in shares of Blackstone by 2.8% in the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after purchasing an additional 60 shares in the last quarter. Sage Rhino Capital LLC raised its stake in Blackstone by 0.8% in the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after buying an additional 63 shares in the last quarter. Jeppson Wealth Management LLC raised its position in shares of Blackstone by 1.0% in the 2nd quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock worth $980,000 after acquiring an additional 66 shares in the last quarter. McAdam LLC raised its position in shares of Blackstone by 4.4% in the 1st quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock worth $246,000 after acquiring an additional 75 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its holdings in Blackstone by 0.6% in the first quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock worth $1,652,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 21,500 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 453,836 shares of the company’s stock, valued at $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were bought at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the completion of the acquisition, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by company insiders.

Blackstone Price Performance

NYSE BX opened at $153.88 on Friday. The stock’s fifty day moving average price is $172.53 and its 200 day moving average price is $154.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $113.42 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 1.31 and a beta of 1.77. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96.

Blackstone (NYSE:BX) 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 for the quarter. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.7%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is 110.75%.

Wall Street Analyst Weigh In

A number of brokerages have commented on BX. BMO Capital Markets initiated coverage on shares of Blackstone in a report on Friday, October 3rd. They issued an “outperform” rating and a $190.00 target price for the company. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $172.00 to $173.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Evercore ISI upped their price target on Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Dbs Bank raised Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. Finally, BNP Paribas Exane upped their target price on Blackstone from $166.00 to $178.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. One 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

Blackstone 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.