Calton & Associates Inc. Invests $7.51 Million in Blackstone Inc. (NYSE:BX)

Calton & Associates Inc. bought a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 53,733 shares of the asset manager's stock, valued at approximately $7,511,000. Blackstone comprises 0.9% of Calton & Associates Inc.'s investment portfolio, making the stock its 17th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BX. Vanguard Group Inc. raised its position in Blackstone by 1.3% in 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 buying an additional 889,286 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Blackstone by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock valued at $2,637,266,000 after buying an additional 444,887 shares during the last quarter. Northern Trust Corp lifted its position in shares of Blackstone by 10.8% during the 4th quarter. Northern Trust Corp now owns 7,016,046 shares of the asset manager's stock valued at $1,209,707,000 after buying an additional 681,512 shares during the last quarter. Invesco Ltd. lifted its holdings in Blackstone by 6.6% during the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock worth $1,032,400,000 after purchasing an additional 371,677 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Blackstone during the 4th quarter valued at about $974,448,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BX shares. JMP Securities lifted their price target on Blackstone from $165.00 to $180.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Wells Fargo & Company upped their price target on Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Cowen reiterated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Citigroup reiterated a "market perform" rating on shares of Blackstone in a research report on Saturday. Finally, Morgan Stanley decreased their price target on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone presently has an average rating of "Hold" and a consensus target price of $162.18.

Insider Buying and Selling

In other news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were acquired at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the acquisition, the insider directly owned 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were acquired at an average cost of $25.22 per share, for a total transaction of $29,999,997.04. Following the completion of the acquisition, the insider directly owned 4,178,771 shares in the company, valued at $105,388,604.62. The trade was a 39.79% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,849,769 shares of company stock valued at $54,932,307. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

Shares of Blackstone stock traded down $1.80 during trading on Monday, reaching $166.92. The company's stock had a trading volume of 1,584,128 shares, compared to its average volume of 3,847,134. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. The firm has a market cap of $121.79 billion, a PE ratio of 50.28, a P/E/G ratio of 1.52 and a beta of 1.65. The company has a 50-day moving average price of $146.60 and a two-hundred day moving average price of $150.39. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $200.96.

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

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.