1,624 Shares in Blackstone Inc. (NYSE:BX) Bought by Callahan Advisors LLC

Callahan Advisors LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,624 shares of the asset manager's stock, valued at approximately $227,000.

Several other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of Blackstone in the 4th quarter valued at about $974,448,000. Capital Research Global Investors acquired a new stake in Blackstone during the fourth quarter valued at approximately $239,837,000. GAMMA Investing LLC grew its position in shares of Blackstone by 14,608.6% in the 1st quarter. GAMMA Investing LLC now owns 1,322,598 shares of the asset manager's stock worth $184,873,000 after acquiring an additional 1,313,606 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after acquiring an additional 889,286 shares in the last quarter. Finally, FMR LLC boosted its holdings in Blackstone by 38.8% in the fourth quarter. FMR LLC now owns 2,990,238 shares of the asset manager's stock worth $515,577,000 after purchasing an additional 835,170 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Trading Down 1.1%

NYSE:BX traded down $1.85 during trading hours on Friday, hitting $162.21. The stock had a trading volume of 3,976,798 shares, compared to its average volume of 3,887,856. The business's 50 day moving average is $143.68 and its 200-day moving average is $150.98. The company has a market cap of $118.36 billion, a price-to-earnings ratio of 48.86, a P/E/G ratio of 1.50 and a beta of 1.65. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.75 and a current ratio of 0.75.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a return on equity of 19.84% and a net margin of 19.83%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Monday, April 28th. Blackstone's payout ratio is presently 112.05%.

Analysts Set New Price Targets

BX has been the subject of a number of research reports. UBS Group decreased their target price on Blackstone from $180.00 to $175.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. TD Cowen cut their target price on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Bank of America dropped their price objective on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Cowen restated a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Finally, Citizens Jmp upgraded Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective for the company in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Blackstone currently has an average rating of "Hold" and an average target price of $161.29.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, the insider owned 475,336 shares in the company, valued at approximately $65,819,775.92. This trade represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were purchased at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider directly 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company's stock.

Blackstone 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.