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

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

Other institutional investors have also modified their holdings of the company. Family CFO Inc acquired a new stake in Blackstone in the fourth quarter valued at $28,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone during the 4th quarter worth about $28,000. Richardson Financial Services Inc. purchased a new position in shares of Blackstone in the 4th quarter valued at about $29,000. Strive Asset Management LLC purchased a new stake in Blackstone during the third quarter worth approximately $30,000. Finally, Palladiem LLC acquired a new position in Blackstone in the fourth quarter valued at approximately $31,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Trading Up 2.0%

Shares of Blackstone stock opened at $124.46 on Wednesday. The company has a 50-day moving average of $119.68 and a two-hundred day moving average of $126.29. The stock has a market cap of $92.46 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.58. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS. On average, research analysts anticipate that Blackstone Inc. will post 5.89 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.7%. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Analyst Ratings Changes

BX has been the subject of a number of research analyst reports. Argus decreased their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. JPMorgan Chase & Co. reduced their price objective on Blackstone from $142.00 to $136.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Oppenheimer raised their target price on shares of Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Citizens Jmp reduced their price target on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Finally, BMO Capital Markets increased their price target on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and a consensus price target of $146.52.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 355 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $123.04 per share, for a total transaction of $43,679.20. Following the transaction, the director directly owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. This represents a 0.86% increase in their ownership of the stock. The purchase 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 7,477,500 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the sale, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. The trade was a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 10,252,345 shares of company stock worth $209,789,893. Insiders own 1.00% of the company’s stock.

Blackstone Company 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.