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

Mutual of America Capital Management LLC cut its position in shares of Blackstone Inc. (NYSE:BX) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after buying an additional 1,494,796 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Blackstone by 1.4% in the second quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after purchasing an additional 227,416 shares during the period. Norges Bank acquired a new position in Blackstone during the 2nd quarter worth $1,071,348,000. Legal & General Group Plc increased its stake in shares of Blackstone by 4.7% in the second quarter. Legal & General Group Plc now owns 4,532,941 shares of the asset manager’s stock worth $678,037,000 after purchasing an additional 202,245 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Blackstone by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,200,194 shares of the asset manager’s stock worth $628,265,000 after buying an additional 37,327 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on BX. UBS Group cut their target price on shares of Blackstone from $175.00 to $172.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. Citigroup decreased their target price on Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. The Goldman Sachs Group boosted their price objective on Blackstone from $173.00 to $174.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. HSBC lowered their price target on shares of Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Nine investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $177.25.

Insiders Place Their Bets

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were bought at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the completion of the acquisition, the insider owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Breyer purchased 13,900 shares of Blackstone stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the transaction, the director owned 68,906 shares in the company, valued at $9,912,817.16. This represents a 25.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 797,148 shares of company stock worth $24,050,153 in the last three months. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.1%

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

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.