Blackstone Inc. (NYSE:BX) Position Boosted by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. grew its position in shares of Blackstone Inc. (NYSE:BX) by 0.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 93,752 shares of the asset manager’s stock after buying an additional 356 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Blackstone were worth $16,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Blackstone by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager’s stock worth $697,464,000 after buying an additional 113,732 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Blackstone by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock valued at $525,375,000 after buying an additional 116,367 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Blackstone by 6.1% during the third quarter. FMR LLC now owns 2,155,068 shares of the asset manager’s stock valued at $330,006,000 after acquiring an additional 124,462 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Up 4.8 %

Shares of Blackstone stock opened at $147.67 on Tuesday. The stock’s fifty day moving average is $165.35 and its 200-day moving average is $167.26. The firm has a market capitalization of $107.72 billion, a PE ratio of 40.68, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. 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) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping 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%. Equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.90%. Blackstone’s payout ratio is currently 158.68%.

Insider Buying and Selling

In related news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BX. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Monday. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Piper Sandler upped their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $172.38.

About Blackstone

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.