Blackstone Inc. (NYSE:BX) Position Lowered by Callan Capital LLC

Callan Capital LLC decreased its stake in shares of Blackstone Inc. (NYSE:BX) by 30.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,577 shares of the asset manager’s stock after selling 2,914 shares during the quarter. Callan Capital LLC’s holdings in Blackstone were worth $861,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Bryn Mawr Capital Management LLC lifted its position in shares of Blackstone by 8.2% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 13,602 shares of the asset manager’s stock worth $1,781,000 after purchasing an additional 1,036 shares during the last quarter. Trust Asset Management LLC bought a new position in Blackstone in the fourth quarter worth about $1,087,000. Jackson Hole Capital Partners LLC bought a new position in Blackstone in the fourth quarter worth about $222,000. Cross Staff Investments Inc lifted its holdings in Blackstone by 0.6% in the fourth quarter. Cross Staff Investments Inc now owns 42,042 shares of the asset manager’s stock worth $5,504,000 after acquiring an additional 243 shares during the last quarter. Finally, BIP Wealth LLC bought a new position in Blackstone in the fourth quarter worth about $203,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Blackstone news, Director Reginald J. Brown acquired 2,400 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was acquired at an average price of $125.62 per share, with a total value of $301,488.00. Following the transaction, the director now owns 16,949 shares of the company’s stock, valued at $2,129,133.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,587,168 shares of company stock valued at $37,816,476. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock traded down $0.04 during mid-day trading on Friday, hitting $122.49. The company’s stock had a trading volume of 2,962,718 shares, compared to its average volume of 3,161,162. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $87.54 billion, a P/E ratio of 43.27, a P/E/G ratio of 1.02 and a beta of 1.51. The stock’s fifty day moving average price is $125.96 and its two-hundred day moving average price is $118.39.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. Research analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Monday, April 29th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.71%. Blackstone’s payout ratio is 132.86%.

Analysts Set New Price Targets

Several brokerages have commented on BX. Bank of America dropped their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Morgan Stanley raised their price target on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. UBS Group raised their price target on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Barclays restated an “equal weight” rating and issued a $125.00 price target (down previously from $129.00) on shares of Blackstone in a research note on Friday, April 19th. Finally, TheStreet lowered shares of Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $123.65.

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.