Blackstone Inc. (NYSE:BX) is Capital Management Associates NY’s 3rd Largest Position

Capital Management Associates NY lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 12.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,713 shares of the asset manager’s stock after selling 2,916 shares during the quarter. Blackstone accounts for 4.2% of Capital Management Associates NY’s portfolio, making the stock its 3rd biggest holding. Capital Management Associates NY’s holdings in Blackstone were worth $3,571,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Blackstone in the 3rd quarter worth $245,000. Aptus Capital Advisors LLC raised its position in shares of Blackstone by 18.1% in the 3rd quarter. Aptus Capital Advisors LLC now owns 8,388 shares of the asset manager’s stock worth $1,284,000 after acquiring an additional 1,284 shares in the last quarter. Empower Advisory Group LLC raised its position in shares of Blackstone by 55.5% in the 3rd quarter. Empower Advisory Group LLC now owns 3,469 shares of the asset manager’s stock worth $531,000 after acquiring an additional 1,238 shares in the last quarter. Plato Investment Management Ltd raised its position in shares of Blackstone by 136.4% in the 3rd quarter. Plato Investment Management Ltd now owns 759 shares of the asset manager’s stock worth $116,000 after acquiring an additional 438 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Blackstone by 1.9% in the 3rd quarter. Huntington National Bank now owns 24,451 shares of the asset manager’s stock worth $3,744,000 after acquiring an additional 452 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat purchased 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BX shares. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Wells Fargo & Company reduced their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, Piper Sandler upped their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Up 3.3 %

Shares of BX opened at $141.01 on Friday. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $102.86 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 1.07 and a beta of 1.55. The stock’s 50-day moving average price is $165.90 and its 200-day moving average price is $166.84.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 4.08%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 158.68%.

About Blackstone

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.