Callan Capital LLC Sells 2,914 Shares of Blackstone Inc. (NYSE:BX)

Callan Capital LLC decreased its position in Blackstone Inc. (NYSE:BX) by 30.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Bryn Mawr Capital Management LLC increased its position in shares of Blackstone by 8.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 13,602 shares of the asset manager’s stock valued at $1,781,000 after purchasing an additional 1,036 shares during the last quarter. Trust Asset Management LLC purchased a new position in Blackstone during the 4th quarter valued at $1,087,000. Jackson Hole Capital Partners LLC purchased a new position in Blackstone during the 4th quarter valued at $222,000. Cross Staff Investments Inc boosted its holdings in Blackstone by 0.6% during the 4th quarter. Cross Staff Investments Inc now owns 42,042 shares of the asset manager’s stock valued at $5,504,000 after acquiring an additional 243 shares during the period. Finally, BIP Wealth LLC purchased a new stake in shares of Blackstone in the 4th quarter worth $203,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, Director Ruth Porat purchased 232 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was bought at an average cost of $127.08 per share, with a total value of $29,482.56. Following the acquisition, the director now directly owns 34,225 shares of the company’s stock, valued at $4,349,313. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 completion of the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Porat bought 232 shares of Blackstone stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $127.08 per share, with a total value of $29,482.56. Following the completion of the acquisition, the director now directly owns 34,225 shares in the company, valued at approximately $4,349,313. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 2,587,168 shares of company stock valued at $37,816,476. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

Blackstone stock traded down $0.04 during midday trading on Friday, hitting $122.49. 2,962,718 shares of the company were exchanged, compared to its average volume of 3,161,162. The firm has a market capitalization of $87.54 billion, a PE ratio of 43.27, a price-to-earnings-growth ratio of 1.02 and a beta of 1.51. Blackstone Inc. has a fifty-two week low of $79.92 and a fifty-two week high of $133.56. The business has a fifty day simple moving average of $125.96 and a two-hundred day simple moving average of $118.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.79.

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

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders 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 dividend payout ratio is currently 132.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BX shares. UBS Group upped their target price on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. The Goldman Sachs Group cut Blackstone from a “buy” rating to a “neutral” rating and upped their target price for the stock from $115.00 to $128.00 in a report on Wednesday, January 3rd. Wells Fargo & Company upped their price objective on Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Morgan Stanley upped their price objective on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Barclays reaffirmed an “equal weight” rating and set a $125.00 target price (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $123.65.

Blackstone Company 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.