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

Calamos Wealth Management LLC cut its holdings in Blackstone Inc. (NYSE:BX) by 5.4% in the 2nd quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BX. 1248 Management LLC acquired a new stake in shares of Blackstone during the first quarter worth $25,000. Family CFO Inc acquired a new stake in shares of Blackstone in the 2nd quarter valued at about $28,000. Wealth Preservation Advisors LLC acquired a new position in shares of Blackstone during the first quarter worth about $28,000. Anderson Financial Strategies LLC acquired a new stake in Blackstone in the 1st quarter valued at approximately $28,000. Finally, Livelsberger Financial Advisory bought a new stake in Blackstone in the 2nd quarter valued at approximately $30,000. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of a number of research reports. Jefferies Financial Group cut their price objective on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. The Goldman Sachs Group raised their price objective on Blackstone from $172.00 to $173.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Wells Fargo & Company increased their price target on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. HSBC upped their price objective on Blackstone from $170.00 to $179.00 in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.26.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 21,500 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the transaction, the insider owned 453,836 shares in the company, valued at $77,814,720.56. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Baratta sold 113,000 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares of the company’s stock, valued at approximately $122,237,547.33. The trade was a 13.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 1.0%

BX opened at $156.37 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $171.66 and its 200 day simple moving average is $154.98. 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 $115.26 billion, a PE ratio of 42.03, a price-to-earnings-growth ratio of 1.27 and a beta of 1.77.

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

Blackstone Increases Dividend

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

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.