Blackstone Inc. $BX Stake Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 4.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 79,899 shares of the asset manager’s stock after selling 3,781 shares during the period. Mutual of America Capital Management LLC’s holdings in Blackstone were worth $13,651,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Arcus Capital Partners LLC lifted its stake in Blackstone by 1.2% during the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after purchasing an additional 58 shares during the last quarter. Mattern Wealth Management LLC boosted its holdings in shares of Blackstone by 2.8% in the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after buying an additional 60 shares during the period. GHP Investment Advisors Inc. lifted its holdings in Blackstone by 3.5% in the second quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock worth $267,000 after acquiring an additional 61 shares during the last quarter. WNY Asset Management LLC raised its position in shares of Blackstone by 1.7% during the 2nd quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock worth $576,000 after purchasing an additional 64 shares during the period. Finally, Redwood Financial Network Corp boosted its position in Blackstone by 1.8% during the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock valued at $537,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BX. Bank of America lowered their price target on shares of Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. HSBC reduced their price objective on Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. TD Cowen reduced their price target on Blackstone from $205.00 to $183.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a report on Wednesday, January 21st. Finally, Citigroup dropped their price target on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Nine investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $177.25.

Insider Buying and Selling

In related news, major shareholder Holdings Iv Gp Mana Blackstone purchased 384,468 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was acquired at an average price of $26.01 per share, for a total transaction of $10,000,012.68. Following the transaction, the insider directly owned 16,525,117 shares of the company’s stock, valued at $429,818,293.17. This trade represents a 2.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the sale, the insider directly owned 2,161 shares of the company’s stock, valued at $21,610. This represents a 99.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders acquired 797,148 shares of company stock valued at $24,050,153. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Down 0.1%

NYSE BX opened at $150.27 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $110.97 billion, a P/E ratio of 42.93, a PEG ratio of 1.06 and a beta of 1.75. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $190.09. The company’s 50 day simple moving average is $152.54 and its 200 day simple moving average is $161.28.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.