Blackstone Inc. (NYSE:BX) Shares Bought by Jackson Wealth Management LLC

Jackson Wealth Management LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 72.7% during the third quarter, HoldingsChannel reports. The fund owned 59,870 shares of the asset manager’s stock after buying an additional 25,207 shares during the period. Blackstone comprises approximately 1.1% of Jackson Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Jackson Wealth Management LLC’s holdings in Blackstone were worth $9,168,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BX. Chilton Capital Management LLC purchased a new stake in shares of Blackstone in the first quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone in the second quarter valued at $26,000. EdgeRock Capital LLC acquired a new position in Blackstone in the second quarter valued at $27,000. West Financial Advisors LLC acquired a new stake in Blackstone during the third quarter worth about $27,000. Finally, Bank & Trust Co acquired a new stake in Blackstone during the second quarter worth about $29,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BX. Evercore ISI increased their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley increased their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group increased their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group raised their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $155.38.

Blackstone Trading Up 2.0 %

Shares of Blackstone stock traded up $3.36 on Thursday, reaching $170.28. 820,899 shares of the company were exchanged, compared to its average volume of 3,435,677. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $175.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $121.69 billion, a price-to-earnings ratio of 58.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The stock has a fifty day moving average price of $149.16 and a 200-day moving average price of $134.15.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is currently 121.55%.

Insiders Place Their Bets

In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.