Callan Family Office LLC Purchases Shares of 32,638 Blackstone Inc. $BX

Key Points

• Callan Family Office acquired 32,638 Blackstone shares in the second quarter, worth approximately $3.84 million. Institutional investors collectively own about 70% of Blackstone.
• Blackstone reported quarterly EPS of $1.52, surpassing the $1.34 consensus estimate, while revenue reached $5.04 billion—up 35.9% year over year and well above expectations.
• The company increased its quarterly dividend to $1.29 per share, equivalent to an annualized $5.16 and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $147.95.

Callan Family Office LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 32,638 shares of the asset manager's stock, valued at approximately $3,841,000.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Blackstone by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager's stock valued at $11,046,859,000 after buying an additional 840,258 shares in the last quarter. BlackRock Inc. bought a new position in shares of Blackstone in the second quarter valued at approximately $6,112,162,000. Morgan Stanley boosted its holdings in shares of Blackstone by 2.0% in the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager's stock worth $5,065,374,000 after acquiring an additional 636,613 shares in the last quarter. State Street Corp increased its holdings in Blackstone by 0.6% during the 4th quarter. State Street Corp now owns 31,542,009 shares of the asset manager's stock valued at $4,861,885,000 after purchasing an additional 179,213 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Blackstone by 3.4% in the 1st quarter. Bank of America Corp DE now owns 11,538,067 shares of the asset manager's stock valued at $1,326,762,000 after purchasing an additional 384,264 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Blackstone Stock Up 1.6%

Shares of NYSE:BX opened at $143.56 on Friday. The company has a 50 day moving average of $128.82 and a 200-day moving average of $122.57. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The stock has a market cap of $107.76 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 1.59 and a beta of 1.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.72.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.18. The firm had revenue of $5.04 billion for the quarter, compared to analysts' expectations of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The business's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. On average, sell-side analysts forecast that Blackstone Inc. will post 5.99 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Blackstone's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. Blackstone's payout ratio is presently 115.44%.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the transaction, the insider owned 19,374 shares in the company, valued at approximately $73,233.72. This trade represents a 99.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vikrant Sawhney sold 30,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total value of $4,066,500.00. Following the transaction, the insider owned 869,669 shares of the company's stock, valued at $117,883,632.95. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have acquired 1,339,180 shares of company stock valued at $35,062,433 and have sold 7,562,000 shares valued at $40,331,085. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BX. Dbs Bank upgraded Blackstone to a "moderate buy" rating in a report on Wednesday, May 27th. Argus upped their price target on shares of Blackstone from $146.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Royal Bank Of Canada raised their price objective on shares of Blackstone from $161.00 to $169.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Oppenheimer boosted their target price on shares of Blackstone from $139.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. Finally, BNP Paribas Exane decreased their price target on shares of Blackstone from $126.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, Blackstone presently has a consensus rating of "Moderate Buy" and an average price target of $147.95.

Blackstone Profile

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.

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