Calamos Wealth Management LLC Acquires Shares of 3,496 Blackstone Inc. (NYSE:BX)

Calamos Wealth Management LLC acquired a new stake in Blackstone Inc. (NYSE:BX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,496 shares of the asset manager's stock, valued at approximately $489,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock valued at $1,970,000 after acquiring an additional 62 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its position in Blackstone by 0.9% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 8,110 shares of the asset manager's stock valued at $1,398,000 after purchasing an additional 74 shares during the last quarter. Ascent Group LLC increased its position in Blackstone by 0.9% in the 4th quarter. Ascent Group LLC now owns 8,522 shares of the asset manager's stock worth $1,469,000 after purchasing an additional 74 shares during the last quarter. Global Assets Advisory LLC raised its stake in shares of Blackstone by 1.9% during the 4th quarter. Global Assets Advisory LLC now owns 4,013 shares of the asset manager's stock worth $697,000 after purchasing an additional 75 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in shares of Blackstone by 0.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 8,466 shares of the asset manager's stock valued at $1,460,000 after buying an additional 78 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Barclays raised their target price on Blackstone from $129.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Monday, April 21st. TD Cowen decreased their target price on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler raised their price target on shares of Blackstone from $140.00 to $157.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Citigroup dropped their target price on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $156.65.

Insider Activity at Blackstone

In other Blackstone news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of Blackstone stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the acquisition, the insider owned 1,666,667 shares of the company's stock, valued at $25,000,005. This trade represents a 24,898.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the sale, the insider directly owned 475,336 shares in the company, valued at $65,819,775.92. This represents a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

Shares of NYSE:BX traded up $1.57 during mid-day trading on Friday, reaching $155.13. 2,048,009 shares of the company traded hands, compared to its average volume of 3,850,287. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm has a market cap of $113.19 billion, a PE ratio of 46.72, a PEG ratio of 1.43 and a beta of 1.65. The company's 50 day moving average price is $141.20 and its 200-day moving average price is $151.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.75 and a quick ratio of 0.75.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.95 billion. Blackstone had a return on equity of 19.84% and a net margin of 19.83%. During the same period in the previous year, the business earned $0.98 earnings per share. On average, equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone's payout ratio is 112.05%.

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.