State of Alaska Department of Revenue Buys 5,930 Shares of Blackstone Inc. (NYSE:BX)

State of Alaska Department of Revenue boosted its stake in Blackstone Inc. (NYSE:BX) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,650 shares of the asset manager’s stock after purchasing an additional 5,930 shares during the quarter. State of Alaska Department of Revenue’s holdings in Blackstone were worth $12,809,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Chilton Capital Management LLC bought a new stake in Blackstone during the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone in the 2nd quarter worth about $26,000. EdgeRock Capital LLC bought a new position in Blackstone in the 2nd quarter valued at about $27,000. West Financial Advisors LLC bought a new stake in Blackstone during the 3rd quarter worth approximately $27,000. Finally, Bank & Trust Co bought a new position in shares of Blackstone in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on BX shares. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Evercore ISI boosted their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Redburn Atlantic began coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Barclays upped their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Citigroup lifted their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Stock Down 1.3 %

BX opened at $167.50 on Monday. The company has a 50 day moving average of $150.49 and a 200 day moving average of $134.74. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $175.94. The company has a market cap of $119.70 billion, a PE ratio of 59.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s payout ratio is presently 121.55%.

Insiders Place Their Bets

In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction on 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 directly owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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.