Callan Capital LLC Boosts Holdings in Blackstone Inc. (NYSE:BX)

Callan Capital LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 21.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,968 shares of the asset manager’s stock after buying an additional 1,386 shares during the period. Callan Capital LLC’s holdings in Blackstone were worth $986,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Chilton Capital Management LLC purchased a new position in Blackstone in the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone during the 2nd quarter worth about $26,000. EdgeRock Capital LLC acquired a new position in shares of Blackstone in the second quarter valued at approximately $27,000. Bank & Trust Co acquired a new stake in Blackstone during the second quarter worth approximately $29,000. Finally, Ridgewood Investments LLC acquired a new position in Blackstone in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on BX. Bank of America lifted their price target on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Redburn Atlantic initiated coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. TD Cowen upped their price target on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Morgan Stanley lifted their price target on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $130.78.

Blackstone Stock Performance

Shares of BX opened at $159.66 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $160.24. The company’s fifty day moving average is $139.01 and its 200-day moving average is $129.11. The firm has a market cap of $114.10 billion, a price-to-earnings ratio of 56.42, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the company posted $0.93 EPS. The business’s revenue was up 166.9% compared to the same quarter last year. Equities analysts expect that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s payout ratio is presently 115.90%.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone 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.