Capital Management Associates NY Sells 12,713 Shares of Blackstone Inc. (NYSE:BX)

Capital Management Associates NY lessened its holdings in Blackstone Inc. (NYSE:BX) by 61.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the asset manager’s stock after selling 12,713 shares during the quarter. Blackstone makes up approximately 2.2% of Capital Management Associates NY’s holdings, making the stock its 22nd biggest holding. Capital Management Associates NY’s holdings in Blackstone were worth $1,118,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BX. Brighton Jones LLC boosted its stake in shares of Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares during the last quarter. American Century Companies Inc. raised its position in shares of Blackstone by 11.8% in the 4th quarter. American Century Companies Inc. now owns 65,513 shares of the asset manager’s stock valued at $11,296,000 after acquiring an additional 6,938 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Blackstone in the 4th quarter valued at approximately $20,543,000. Schroder Investment Management Group raised its position in shares of Blackstone by 83.2% in the 4th quarter. Schroder Investment Management Group now owns 357,336 shares of the asset manager’s stock valued at $61,480,000 after acquiring an additional 162,247 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Blackstone by 2.4% in the 4th quarter. Clearbridge Investments LLC now owns 383,771 shares of the asset manager’s stock valued at $66,170,000 after acquiring an additional 8,844 shares during the period. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on BX. Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. TD Cowen dropped their target price on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Piper Sandler raised their target price on shares of Blackstone from $157.00 to $181.00 and gave the stock a “neutral” rating in a report on Monday. Keefe, Bruyette & Woods raised their target price on shares of Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 25th. Finally, Citigroup restated a “market perform” rating on shares of Blackstone in a report on Saturday, July 19th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average price target of $170.12.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 237 shares of Blackstone stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $136.33 per share, with a total value of $32,310.21. Following the completion of the transaction, the director owned 37,067 shares in the company, valued at $5,053,344.11. The trade was a 0.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of Blackstone stock in a transaction dated Friday, July 18th. The stock was acquired at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the transaction, the insider owned 4,178,771 shares of the company’s stock, valued at $105,388,604.62. This trade represents a 39.79% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 2,849,769 shares of company stock worth $54,932,307. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

NYSE:BX opened at $177.00 on Wednesday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $150.38 and a 200 day simple moving average of $150.62. The stock has a market capitalization of $129.15 billion, a PE ratio of 47.58, a P/E/G ratio of 1.45 and a beta of 1.65.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. On average, research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, August 4th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, August 4th. This is a boost from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is presently 100.00%.

Blackstone Company 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.