Jackson Wealth Management LLC Has $11.93 Million Stock Position in Blackstone Inc. $BX

Jackson Wealth Management LLC boosted its stake in Blackstone Inc. (NYSE:BX) by 19.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,811 shares of the asset manager’s stock after purchasing an additional 11,314 shares during the quarter. Blackstone comprises about 1.2% of Jackson Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. Jackson Wealth Management LLC’s holdings in Blackstone were worth $11,927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BX. Kingstone Capital Partners Texas LLC boosted its stake in Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after acquiring an additional 70,118,948 shares during the last quarter. Norges Bank bought a new position in shares of Blackstone during the second quarter worth $1,071,348,000. Vanguard Group Inc. grew its holdings in shares of Blackstone by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after buying an additional 1,494,796 shares during the period. Amundi raised its stake in Blackstone by 69.3% during the 1st quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock worth $323,000,000 after buying an additional 990,947 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in Blackstone by 31.9% during the second quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock worth $568,902,000 after acquiring an additional 919,773 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Down 0.5%

Blackstone stock opened at $150.38 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $190.09. The company has a fifty day simple moving average of $150.09 and a 200 day simple moving average of $158.90. The company has a market cap of $111.05 billion, a P/E ratio of 42.97, a price-to-earnings-growth ratio of 1.20 and a beta of 1.76.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were given a dividend of $1.29 per share. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.4%. Blackstone’s payout ratio is presently 147.43%.

Wall Street Analyst Weigh In

BX has been the topic of a number of research analyst reports. HSBC dropped their price target on Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. JPMorgan Chase & Co. lowered their price objective on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. BMO Capital Markets cut their price objective on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Finally, BNP Paribas Exane lowered their target price on Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.84.

Insider Buying and Selling

In other news, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was bought at an average price of $25.96 per share, with a total value of $9,999,999.68. Following the transaction, the insider directly owned 16,332,883 shares in the company, valued at approximately $424,001,642.68. The trade was a 2.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the sale, the director owned 695,757 shares of the company’s stock, valued at $122,237,547.33. This trade represents a 13.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired a total of 2,950,751 shares of company stock worth $79,050,138 in the last quarter. 1.00% of the stock is owned by company insiders.

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.