Whittier Trust Co. of Nevada Inc. Has $22.06 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Whittier Trust Co. of Nevada Inc. increased its stake in Blackstone Inc. (NYSE:BX - Free Report) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,926 shares of the asset manager's stock after buying an additional 6,333 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Blackstone were worth $22,057,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Blackstone during the fourth quarter worth about $316,257,000. Proficio Capital Partners LLC boosted its position in Blackstone by 2,057.7% during the fourth quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager's stock worth $145,653,000 after acquiring an additional 805,604 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Blackstone by 111.1% in the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager's stock valued at $167,825,000 after purchasing an additional 512,165 shares during the last quarter. Amundi boosted its position in shares of Blackstone by 51.0% during the 4th quarter. Amundi now owns 1,430,555 shares of the asset manager's stock valued at $248,723,000 after acquiring an additional 483,362 shares during the last quarter. Finally, Castleark Management LLC purchased a new position in Blackstone in the third quarter worth approximately $67,472,000. Institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Piper Sandler increased their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a research report on Monday, December 23rd. Wells Fargo & Company reduced their price target on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating for the company in a research report on Thursday, March 20th. Citigroup restated a "hold" rating on shares of Blackstone in a research report on Friday, February 7th. Finally, TD Cowen raised Blackstone from a "hold" rating to a "buy" rating and upped their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $171.13.

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Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

Blackstone Price Performance

Shares of Blackstone stock traded down $0.79 during trading on Tuesday, hitting $151.29. The stock had a trading volume of 3,782,403 shares, compared to its average volume of 3,278,089. The business has a fifty day moving average of $163.26 and a two-hundred day moving average of $167.59. The firm has a market cap of $110.35 billion, a P/E ratio of 41.68, a PEG ratio of 1.07 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results 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 net margin of 20.99% and a return on equity of 19.58%. On average, sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.81%. This is a boost from Blackstone's previous quarterly dividend of $0.86. Blackstone's payout ratio is currently 158.68%.

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.