Calamos Wealth Management LLC Sells 188 Shares of Blackstone Inc. $BX

Calamos Wealth Management LLC lowered its holdings in Blackstone Inc. (NYSE:BX) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,308 shares of the asset manager’s stock after selling 188 shares during the quarter. Calamos Wealth Management LLC’s holdings in Blackstone were worth $495,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BX. Cidel Asset Management Inc. raised its holdings in shares of Blackstone by 12.9% in the 2nd quarter. Cidel Asset Management Inc. now owns 1,687 shares of the asset manager’s stock worth $252,000 after buying an additional 193 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Blackstone by 1.7% during the second quarter. Chicago Partners Investment Group LLC now owns 217,317 shares of the asset manager’s stock valued at $32,506,000 after acquiring an additional 3,733 shares during the period. Arcus Capital Partners LLC grew its holdings in shares of Blackstone by 1.2% in the 2nd quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after purchasing an additional 58 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its holdings in Blackstone by 13.2% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 7,460 shares of the asset manager’s stock valued at $1,116,000 after purchasing an additional 872 shares during the last quarter. Finally, United Bank boosted its position in Blackstone by 14.7% in the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock valued at $2,024,000 after buying an additional 1,729 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

In related news, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were purchased at an average price of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the purchase, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This represents a 51.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $173.64, for a total value of $8,829,594.00. Following the transaction, the insider owned 737,248 shares of the company’s stock, valued at $128,015,742.72. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 2,538,345 shares of company stock valued at $65,046,628 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BX shares. Piper Sandler reduced their target price on Blackstone from $181.00 to $173.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Barclays cut their price objective on Blackstone from $181.00 to $171.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Bank of America lowered their target price on Blackstone from $200.00 to $199.00 in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Blackstone from $194.00 to $188.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Finally, HSBC boosted their target price on shares of Blackstone from $170.00 to $179.00 in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and an average price target of $180.26.

Blackstone Price Performance

Shares of BX stock opened at $156.37 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The firm has a market cap of $115.26 billion, a price-to-earnings ratio of 42.03, a PEG ratio of 1.27 and a beta of 1.77. The stock has a 50-day moving average price of $171.66 and a 200 day moving average price of $154.98.

Blackstone (NYSE:BX) last issued its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The company had revenue of $2.49 billion for the quarter. Research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, August 4th were given a $1.03 dividend. The ex-dividend date was Monday, August 4th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is 110.75%.

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.