Trust Co. of Toledo NA OH Has $3.29 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Trust Co. of Toledo NA OH lifted its stake in Blackstone Inc. (NYSE:BX) by 14.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,552 shares of the asset manager’s stock after acquiring an additional 2,936 shares during the period. Trust Co. of Toledo NA OH’s holdings in Blackstone were worth $3,292,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after acquiring an additional 889,286 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Blackstone by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager’s stock worth $2,637,266,000 after acquiring an additional 444,887 shares during the last quarter. Northern Trust Corp lifted its position in Blackstone by 10.8% in the fourth quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager’s stock worth $1,209,707,000 after purchasing an additional 681,512 shares during the period. Invesco Ltd. lifted its position in Blackstone by 6.6% in the fourth quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager’s stock worth $1,032,400,000 after purchasing an additional 371,677 shares during the period. Finally, Norges Bank bought a new position in Blackstone in the fourth quarter worth $974,448,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were acquired at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the acquisition, the insider now directly owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the transaction, the insider now owns 475,336 shares in the company, valued at $65,819,775.92. This trade represents a 5.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $136.37 on Friday. The stock has a 50-day moving average price of $136.51 and a 200 day moving average price of $155.62. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. 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. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the previous year, the business earned $0.98 earnings per share. Research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

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

Analysts Set New Price Targets

BX has been the subject of several research reports. Cowen reaffirmed a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. UBS Group reduced their target price on Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley cut their price objective on Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Wells Fargo & Company boosted their target price on shares of Blackstone from $139.00 to $153.00 and gave the company an “equal weight” rating in a research note on Friday, May 23rd. Finally, TD Cowen reduced their target price on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $155.65.

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.