Callan Capital LLC Acquires 1,386 Shares of Blackstone Inc. (NYSE:BX)

Callan Capital LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 21.1% in the 2nd quarter, Holdings Channel reports. The fund owned 7,968 shares of the asset manager’s stock after purchasing an additional 1,386 shares during the quarter. Callan Capital LLC’s holdings in Blackstone were worth $986,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Moseley Investment Management Inc. lifted its holdings in Blackstone by 0.7% during the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after buying an additional 74 shares during the period. Patrick M Sweeney & Associates Inc. increased its holdings in Blackstone by 0.6% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock worth $1,713,000 after purchasing an additional 80 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Blackstone by 0.6% in the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock valued at $1,686,000 after acquiring an additional 80 shares in the last quarter. WR Wealth Planners LLC lifted its stake in Blackstone by 23.7% in the second quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 84 shares during the last quarter. Finally, Beaumont Asset Management L.L.C. lifted its stake in Blackstone by 1.3% in the second quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock valued at $826,000 after purchasing an additional 84 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

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

Blackstone Stock Performance

NYSE:BX opened at $159.66 on Friday. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $160.24. The company’s 50-day moving average is $139.01 and its two-hundred day moving average is $129.11. The firm has a market capitalization of $114.10 billion, a price-to-earnings ratio of 56.42, a PEG ratio of 1.23 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77.

Blackstone (NYSE:BX) last issued its 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). The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 EPS. Analysts forecast that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

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

Wall Street Analyst Weigh In

BX has been the topic of several research analyst reports. Morgan Stanley upped their price objective on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Redburn Atlantic began coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Wells Fargo & Company initiated coverage on shares of Blackstone in a report on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price target on the stock. Finally, Bank of America increased their target price on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $130.78.

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.