Dorsey & Whitney Trust CO LLC Has $836,000 Position in Blackstone Inc. (NYSE:BX)

Dorsey & Whitney Trust CO LLC grew its stake in Blackstone Inc. (NYSE:BX) by 50.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,848 shares of the asset manager’s stock after purchasing an additional 1,622 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Blackstone were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Bangor Savings Bank raised its holdings in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new position in Blackstone in the 4th quarter valued at approximately $28,000. Centricity Wealth Management LLC bought a new position in Blackstone in the 4th quarter valued at approximately $30,000. Berbice Capital Management LLC bought a new position in Blackstone in the 4th quarter valued at approximately $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Blackstone during the 4th quarter worth approximately $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BX has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Finally, Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $172.38.

Blackstone Trading Down 0.3 %

NYSE BX opened at $145.12 on Monday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The business’s fifty day moving average is $169.33 and its 200-day moving average is $167.23. The stock has a market capitalization of $105.86 billion, a price-to-earnings ratio of 39.98, 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 (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. 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 annualized dividend and a dividend yield of 3.97%. Blackstone’s dividend payout ratio is currently 158.68%.

Insider Activity

In other Blackstone news, Director Ruth Porat acquired 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.