Whittier Trust Co. Grows Stock Position in Blackstone Inc. (NYSE:BX)

Whittier Trust Co. increased its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 321,846 shares of the asset manager's stock after purchasing an additional 2,541 shares during the period. Blackstone accounts for approximately 0.7% of Whittier Trust Co.'s investment portfolio, making the stock its 24th biggest position. Whittier Trust Co.'s holdings in Blackstone were worth $55,492,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Bangor Savings Bank boosted its stake in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone during the fourth quarter worth $28,000. Centricity Wealth Management LLC purchased a new position in shares of Blackstone in the fourth quarter worth about $30,000. Roxbury Financial LLC acquired a new position in Blackstone during the fourth quarter worth about $34,000. Finally, Berbice Capital Management LLC acquired a new stake in Blackstone in the 4th quarter valued at about $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BX. Citigroup reiterated a "hold" rating on shares of Blackstone in a research report on Friday, February 7th. Wells Fargo & Company dropped their price objective on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating for the company in a report on Thursday. BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the company a "market perform" rating in a report on Thursday, December 19th. Barclays reaffirmed an "equal weight" 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 raised their target price for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $171.13.

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Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat acquired 301 shares of the 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 owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Up 2.6 %

Blackstone stock traded up $3.84 during trading on Monday, reaching $152.13. The stock had a trading volume of 3,072,027 shares, compared to its average volume of 3,279,263. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The business has a 50 day moving average price of $163.26 and a 200 day moving average price of $167.59. The stock has a market cap of $110.97 billion, a PE ratio of 41.91, a P/E/G ratio of 1.07 and a beta of 1.55. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.79%. Blackstone's dividend payout ratio is 158.68%.

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.