Blackstone Inc. (NYSE:BX) Shares Bought by Callan Family Office LLC

Callan Family Office LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 275.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,932 shares of the asset manager’s stock after acquiring an additional 28,573 shares during the period. Callan Family Office LLC’s holdings in Blackstone were worth $5,442,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BX. Brighton Jones LLC boosted its stake in shares of Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after acquiring an additional 2,035 shares during the last quarter. Townsquare Capital LLC boosted its stake in shares of Blackstone by 4.0% during the fourth quarter. Townsquare Capital LLC now owns 19,097 shares of the asset manager’s stock valued at $3,293,000 after acquiring an additional 730 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of Blackstone during the fourth quarter valued at $1,659,000. Synovus Financial Corp lifted its position in Blackstone by 2.8% during the fourth quarter. Synovus Financial Corp now owns 32,506 shares of the asset manager’s stock worth $5,605,000 after buying an additional 871 shares during the period. Finally, Savvy Advisors Inc. lifted its position in Blackstone by 175.9% during the fourth quarter. Savvy Advisors Inc. now owns 6,012 shares of the asset manager’s stock worth $1,037,000 after buying an additional 3,833 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. JMP Securities increased their target price on Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a research report on Friday, July 25th. Morgan Stanley reduced their target price on Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Evercore ISI increased their target price on Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $170.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, UBS Group cut their price objective on Blackstone from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $170.12.

Blackstone Stock Performance

Shares of NYSE:BX opened at $170.14 on Tuesday. The company has a market cap of $124.14 billion, a P/E ratio of 45.74, a PEG ratio of 1.38 and a beta of 1.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.74. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The business’s 50-day simple moving average is $156.23 and its 200 day simple moving average is $149.92.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 24th. The asset manager reported $1.21 EPS for the quarter, beating the consensus estimate of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the business posted $0.98 EPS. The company’s revenue was up 32.7% on a year-over-year basis. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were paid a dividend of $1.03 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.4%. Blackstone’s payout ratio is 110.75%.

Insider Buying and Selling at Blackstone

In other Blackstone news, CAO David Payne sold 9,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $169.97, for a total transaction of $1,597,718.00. Following the completion of the sale, the chief accounting officer owned 54,488 shares in the company, valued at $9,261,325.36. This trade represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was purchased at an average price of $25.22 per share, with a total value of $29,999,997.04. Following the transaction, the insider owned 4,178,771 shares in the company, valued at approximately $105,388,604.62. This represents a 39.79% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

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.