Blackstone Inc. $BX Shares Acquired by Calamos Wealth Management LLC

Calamos Wealth Management LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 103.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,938 shares of the asset manager’s stock after acquiring an additional 7,085 shares during the quarter. Calamos Wealth Management LLC’s holdings in Blackstone were worth $1,603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Blackstone by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock valued at $11,046,859,000 after acquiring an additional 840,258 shares during the period. Morgan Stanley lifted its stake in shares of Blackstone by 2.0% in the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock valued at $5,065,374,000 after purchasing an additional 636,613 shares during the period. State Street Corp boosted its holdings in Blackstone by 0.6% during the fourth quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock worth $4,861,885,000 after buying an additional 179,213 shares in the last quarter. Norges Bank acquired a new position in shares of Blackstone in the fourth quarter worth about $1,275,747,000. Finally, Northern Trust Corp grew its position in shares of Blackstone by 4.7% during the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock valued at $1,251,474,000 after acquiring an additional 329,379 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Up 2.0%

Shares of BX opened at $124.46 on Wednesday. The firm has a 50-day moving average price of $119.68 and a 200 day moving average price of $126.29. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $92.46 billion, a P/E ratio of 31.83, a P/E/G ratio of 1.33 and a beta of 1.58. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 EPS. Sell-side analysts forecast that Blackstone Inc. will post 5.89 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Analysts Set New Price Targets

BX has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Piper Sandler increased their price objective on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Morgan Stanley dropped their target price on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Argus decreased their price target on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Finally, HSBC cut their price objective on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a report on Friday, April 10th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $146.52.

Insider Buying and Selling at Blackstone

In related news, insider Vikrant Sawhney sold 30,014 shares of Blackstone stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the sale, the insider owned 899,669 shares in the company, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $26.14 per share, for a total transaction of $20,000,001.54. Following the completion of the purchase, the insider directly owned 7,882,145 shares of the company’s stock, valued at $206,039,270.30. This represents a 10.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 10,252,345 shares of company stock valued at $209,789,893. 1.00% of the stock is currently owned by company insiders.

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.