Mutual of America Capital Management LLC Sells 1,439 Shares of Blackstone Inc. $BX

Mutual of America Capital Management LLC trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,680 shares of the asset manager’s stock after selling 1,439 shares during the period. Mutual of America Capital Management LLC’s holdings in Blackstone were worth $12,517,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its position in shares of Blackstone by 519,669.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after buying an additional 70,118,948 shares during the period. Vanguard Group Inc. boosted its position in Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after acquiring an additional 1,102,949 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Blackstone by 16.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock valued at $739,761,000 after purchasing an additional 742,829 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Blackstone by 4.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock worth $599,872,000 after purchasing an additional 182,526 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Blackstone by 2.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock valued at $581,886,000 after buying an additional 117,724 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BX. HSBC raised their price objective on Blackstone from $170.00 to $179.00 in a report on Wednesday, October 15th. Barclays lowered their price target on Blackstone from $181.00 to $171.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. JMP Securities upped their price target on shares of Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research report on Friday, July 25th. Finally, Bank of America lowered their price objective on shares of Blackstone from $200.00 to $199.00 in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.26.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 21,500 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the transaction, the insider owned 453,836 shares in the company, valued at $77,814,720.56. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $173.64, for a total transaction of $8,829,594.00. Following the completion of the transaction, the insider owned 737,248 shares in the company, valued at $128,015,742.72. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

NYSE:BX opened at $156.37 on Monday. The firm’s fifty day moving average price is $171.66 and its two-hundred day moving average price is $154.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $115.26 billion, a P/E ratio of 42.03, a P/E/G ratio of 1.27 and a beta of 1.77. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The business had revenue of $2.49 billion during the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. Equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, August 4th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 4th. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is 110.75%.

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.