Blackstone Inc. (NYSE:BX) Holdings Raised by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its stake in Blackstone Inc. by 275.8%, acquiring an additional 28,573 shares during the first quarter, raising their holdings' value to approximately $5.44 million.
• Several large investors, including Brighton Jones LLC and Savvy Advisors Inc., also raised their stakes in Blackstone, indicating strong institutional interest, which now represents 70% of the company's stock.
• Blackstone reported an earnings per share (EPS) of $1.21 for the last quarter, surpassing estimates and showing a 32.7% increase in revenue year-over-year.

Callan Family Office LLC grew its stake in Blackstone Inc. (NYSE:BX - Free Report) by 275.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 38,932 shares of the asset manager's stock after acquiring an additional 28,573 shares during the period. Callan Family Office LLC's holdings in Blackstone were worth $5,442,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Bulltick Wealth Management LLC purchased a new stake in shares of Blackstone during the first quarter worth $1,690,000. Stone House Investment Management LLC purchased a new position in shares of Blackstone in the 1st quarter valued at $75,000. AIA Group Ltd grew its position in shares of Blackstone by 12.0% in the 1st quarter. AIA Group Ltd now owns 40,561 shares of the asset manager's stock valued at $5,670,000 after buying an additional 4,332 shares during the last quarter. Longfellow Investment Management Co. LLC purchased a new position in shares of Blackstone in the 1st quarter valued at $861,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in shares of Blackstone by 35.8% in the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,740 shares of the asset manager's stock valued at $391,000 after buying an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings I. L.P. Blackstone purchased 1,189,532 shares of Blackstone stock in a transaction dated Friday, July 18th. The stock was bought at an average cost of $25.22 per share, with a total value of $29,999,997.04. Following the completion of the purchase, the insider owned 4,178,771 shares in the company, valued at approximately $105,388,604.62. This trade represents a 39.79% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 1,189,806 shares of company stock worth $30,046,627 and have sold 16,850,134 shares worth $131,641,986. Company insiders own 1.00% of the company's stock.

Blackstone Stock Down 1.8%

Shares of BX traded down $3.07 during midday trading on Friday, hitting $171.61. The company had a trading volume of 3,681,204 shares, compared to its average volume of 3,651,876. The company's 50 day moving average price is $159.05 and its 200 day moving average price is $150.12. The stock has a market cap of $126.49 billion, a price-to-earnings ratio of 46.13, a PEG ratio of 1.43 and a beta of 1.71. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. The company's revenue was up 32.7% on a year-over-year basis. On average, equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a $1.03 dividend. This is a positive change from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a yield of 2.4%. Blackstone's payout ratio is currently 110.75%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BX shares. JMP Securities raised their price objective on shares of Blackstone from $180.00 to $195.00 and gave the stock a "market outperform" rating in a research report on Friday, July 25th. Piper Sandler increased their target price on shares of Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 28th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Blackstone in a report on Friday, July 25th. Citigroup reaffirmed a "market perform" rating on shares of Blackstone in a report on Saturday, July 19th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Blackstone from $168.00 to $180.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone has a consensus rating of "Hold" and a consensus target price of $170.12.

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.