Sather Financial Group Inc Has $931,000 Holdings in Blackstone Inc. (NYSE:BX)

Sather Financial Group Inc cut its stake in shares of Blackstone Inc. (NYSE:BX) by 10.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,400 shares of the asset manager’s stock after selling 650 shares during the period. Sather Financial Group Inc’s holdings in Blackstone were worth $931,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Glen Eagle Advisors LLC raised its position in Blackstone by 1.8% in the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares in the last quarter. Investmark Advisory Group LLC increased its holdings in shares of Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after buying an additional 60 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in shares of Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

Blackstone stock opened at $164.80 on Wednesday. The firm’s 50 day simple moving average is $177.99 and its 200 day simple moving average is $164.00. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The firm has a market capitalization of $118.98 billion, a PE ratio of 45.40, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be paid a dividend of $1.44 per share. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.50%. Blackstone’s payout ratio is 94.77%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Citigroup increased their target price on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group increased their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets boosted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $172.38.

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.