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

Callan Capital LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,351 shares of the asset manager’s stock after selling 404 shares during the quarter. Callan Capital LLC’s holdings in Blackstone were worth $1,267,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BX. Bangor Savings Bank lifted its stake in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at approximately $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone in the 4th quarter worth approximately $30,000. Roxbury Financial LLC acquired a new stake in Blackstone during the 4th quarter valued at $34,000. Finally, Berbice Capital Management LLC acquired a new stake in shares of Blackstone in the fourth quarter worth $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Piper Sandler boosted their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Wells Fargo & Company reduced their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $172.38.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Stock Down 3.5 %

Shares of Blackstone stock opened at $158.21 on Friday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The stock has a market capitalization of $114.23 billion, a P/E ratio of 43.58, a PEG ratio of 1.09 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $173.58 and a two-hundred day moving average price of $165.23.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.64%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

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.