TIAA Trust National Association Has $18.17 Million Stake in Blackstone Inc. (NYSE:BX)

TIAA Trust National Association lifted its position in Blackstone Inc. (NYSE:BX) by 17.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,369 shares of the asset manager’s stock after buying an additional 15,497 shares during the quarter. TIAA Trust National Association’s holdings in Blackstone were worth $18,168,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC boosted its holdings in Blackstone by 3.4% during the fourth quarter. Ashton Thomas Securities LLC now owns 4,127 shares of the asset manager’s stock valued at $711,000 after acquiring an additional 134 shares during the period. EFG Asset Management North America Corp. boosted its stake in Blackstone by 6.1% during the 4th quarter. EFG Asset Management North America Corp. now owns 31,576 shares of the asset manager’s stock valued at $5,441,000 after purchasing an additional 1,808 shares during the period. Modern Wealth Management LLC increased its position in Blackstone by 2.3% in the 4th quarter. Modern Wealth Management LLC now owns 12,800 shares of the asset manager’s stock worth $2,158,000 after buying an additional 285 shares during the period. Zevenbergen Capital Investments LLC boosted its position in shares of Blackstone by 14.7% in the fourth quarter. Zevenbergen Capital Investments LLC now owns 16,190 shares of the asset manager’s stock valued at $2,791,000 after acquiring an additional 2,070 shares during the period. Finally, Angeles Investment Advisors LLC increased its position in Blackstone by 8.8% during the fourth quarter. Angeles Investment Advisors LLC now owns 2,968 shares of the asset manager’s stock worth $512,000 after acquiring an additional 240 shares during the period. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BX has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Wells Fargo & Company lowered their price target on Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 20th. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Barclays reissued an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Finally, Citigroup reiterated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average price target of $171.13.

Blackstone Trading Down 0.5 %

Shares of NYSE BX opened at $151.29 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $110.35 billion, a PE ratio of 41.68, a P/E/G ratio of 1.07 and a beta of 1.55. The company has a 50-day moving average of $162.90 and a two-hundred day moving average of $167.69. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating 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%. As a group, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal 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 given a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.81%. Blackstone’s payout ratio is currently 158.68%.

Insider Activity at Blackstone

In related news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.