Blackstone Inc. $BX Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in Blackstone Inc. (NYSE:BX) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,055 shares of the asset manager’s stock after selling 3,715 shares during the quarter. State of Alaska Department of Revenue’s holdings in Blackstone were worth $12,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Old Port Advisors raised its holdings in Blackstone by 2.0% during the second quarter. Old Port Advisors now owns 5,780 shares of the asset manager’s stock worth $865,000 after purchasing an additional 113 shares in the last quarter. Cove Private Wealth LLC acquired a new stake in Blackstone in the second quarter worth $319,000. Destiny Wealth Partners LLC acquired a new stake in Blackstone in the 2nd quarter valued at $304,000. ST Germain D J Co. Inc. raised its stake in Blackstone by 3.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 92,040 shares of the asset manager’s stock worth $13,767,000 after purchasing an additional 3,388 shares in the last quarter. Finally, Embree Financial Group boosted its position in Blackstone by 2.0% in the second quarter. Embree Financial Group now owns 64,284 shares of the asset manager’s stock valued at $9,616,000 after buying an additional 1,234 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 113,000 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the sale, the director directly owned 695,757 shares in the company, valued at $122,237,547.33. This represents a 13.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vikrant Sawhney sold 50,850 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the transaction, the insider owned 737,248 shares of the company’s stock, valued at approximately $128,015,742.72. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

NYSE BX opened at $175.40 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The stock has a market cap of $129.29 billion, a PE ratio of 47.15, a P/E/G ratio of 1.42 and a beta of 1.77. The stock has a fifty day simple moving average of $174.09 and a 200-day simple moving average of $152.90. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.11. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The company’s revenue was up 32.7% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. Equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 4th. This represents a $4.12 annualized dividend and a dividend yield of 2.3%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is presently 110.75%.

Analysts Set New Price Targets

BX has been the topic of a number of recent research reports. Piper Sandler raised their price objective on shares of Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. JMP Securities lifted their target price on shares of Blackstone from $180.00 to $195.00 and gave the company a “market outperform” rating in a research report on Friday, July 25th. Citigroup restated a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. The Goldman Sachs Group reissued a “neutral” rating on shares of Blackstone in a research report on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.38.

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.