Calamos Wealth Management LLC Makes New $489,000 Investment in Blackstone Inc. (NYSE:BX)

Calamos Wealth Management LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the first quarter, according to its most recent filing with the Securities and 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 added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Fisher Asset Management LLC grew its position in Blackstone by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 4,345 shares of the asset manager's stock valued at $749,000 after acquiring an additional 98 shares during the last quarter. Keybank National Association OH grew its position in Blackstone by 4.4% in the 4th quarter. Keybank National Association OH now owns 14,744 shares of the asset manager's stock valued at $2,542,000 after acquiring an additional 621 shares during the last quarter. Assetmark Inc. grew its position in Blackstone by 8.8% in the 4th quarter. Assetmark Inc. now owns 65,472 shares of the asset manager's stock valued at $11,289,000 after acquiring an additional 5,290 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Blackstone by 6.4% during the 4th quarter. Proficio Capital Partners LLC now owns 41,645 shares of the asset manager's stock worth $7,180,000 after buying an additional 2,494 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

Shares of NYSE:BX traded up $1.57 during trading on Friday, reaching $155.13. The stock had a trading volume of 2,048,009 shares, compared to its average volume of 3,857,888. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The stock 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 has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75. The business has a fifty day moving average price of $141.20 and a 200-day moving average price of $151.28.

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

Blackstone Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup dropped their price objective on Blackstone from $190.00 to $137.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. UBS Group reduced their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Piper Sandler raised their price objective on Blackstone from $140.00 to $157.00 and gave the stock a "neutral" rating in a research note on Wednesday. TD Cowen dropped their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Citizens Jmp raised Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $156.65.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 25,000 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider owned 475,336 shares in the company, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ruth Porat acquired 237 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the acquisition, the director directly owned 37,067 shares in the company, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

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.