Trust Co. of Toledo NA OH Increases Stock Holdings in Blackstone Inc. $BX

Trust Co. of Toledo NA OH grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,279 shares of the asset manager’s stock after purchasing an additional 727 shares during the quarter. 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.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in shares of Blackstone in the 1st quarter worth $25,000. von Borstel & Associates Inc. purchased a new stake in Blackstone in the first quarter worth about $28,000. Wealth Preservation Advisors LLC bought a new position in shares of Blackstone in the first quarter worth about $28,000. Anderson Financial Strategies LLC bought a new position in shares of Blackstone during the 1st quarter valued at approximately $28,000. Finally, Family CFO Inc bought a new stake in Blackstone during the 2nd quarter worth approximately $28,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blackstone news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the purchase, the insider owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of Blackstone stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 3,727,877 shares of company stock valued at $95,046,625 and have sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BX. TD Cowen reduced their price objective on shares of Blackstone from $215.00 to $208.00 and set a “buy” rating for the company in a research note on Wednesday. Barclays dropped their target price on shares of Blackstone from $181.00 to $171.00 and set an “equal weight” rating for the company in a research report on Wednesday. BNP Paribas Exane increased their price objective on shares of Blackstone from $166.00 to $178.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods increased their price target on Blackstone from $168.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group increased their price target on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Blackstone Price Performance

NYSE:BX opened at $153.88 on Friday. The firm has a market capitalization 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. The business has a 50 day simple moving average of $172.53 and a 200-day simple moving average of $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.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. Equities analysts forecast that Blackstone Inc. will post 5.87 EPS 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 paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Blackstone’s previous quarterly dividend of $0.93. This represents a $4.12 annualized dividend and a yield of 2.7%. Blackstone’s payout ratio is 110.75%.

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.