Mutual of America Capital Management LLC Sells 1,452 Shares of Blackstone Inc. (NYSE:BX)

Mutual of America Capital Management LLC cut its position in Blackstone Inc. (NYSE:BX) by 1.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 88,672 shares of the asset manager’s stock after selling 1,452 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Blackstone were worth $13,578,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BX. West Financial Advisors LLC bought a new position in Blackstone in the 3rd quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone in the second quarter valued at about $26,000. EdgeRock Capital LLC bought a new stake in Blackstone during the 2nd quarter worth about $27,000. Bank & Trust Co bought a new position in shares of Blackstone in the second quarter worth about $29,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Blackstone in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. Evercore ISI boosted their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup lifted their price target on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group raised their price objective on shares of 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 boosted their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $157.63.

Blackstone Stock Performance

Shares of NYSE BX opened at $181.41 on Friday. Blackstone Inc. has a 52 week low of $102.79 and a 52 week high of $184.34. The stock has a 50 day moving average price of $161.40 and a 200 day moving average price of $140.18. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $130.98 billion, a PE ratio of 62.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Analysts predict that Blackstone Inc. will post 4.39 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the firm’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 transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. 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.