Sather Financial Group Inc Has $926,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Sather Financial Group Inc boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 202.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,050 shares of the asset manager’s stock after purchasing an additional 4,050 shares during the period. Sather Financial Group Inc’s holdings in Blackstone were worth $926,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Portside Wealth Group LLC acquired a new stake in shares of Blackstone in the third quarter valued at approximately $201,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after buying an additional 7,692 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after buying an additional 5,383 shares during the last quarter. Asahi Life Asset Management CO. LTD. bought a new position in shares of Blackstone during the third quarter worth approximately $557,000. Finally, Scientech Research LLC bought a new position in shares of Blackstone during the second quarter worth approximately $1,364,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Up 0.1 %

NYSE BX opened at $181.41 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a twelve month low of $102.79 and a twelve month high of $184.34. The company has a market cap of $130.98 billion, a price-to-earnings ratio of 62.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. The business’s fifty day moving average is $161.40 and its 200 day moving average is $140.18.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, sell-side analysts expect that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.90%. Blackstone’s payout ratio is presently 118.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BX shares. Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Morgan Stanley increased their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company raised their price objective on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group raised their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $157.63.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.