GFG Capital LLC Sells 1,663 Shares of Blackstone Inc. (NYSE:BX)

GFG Capital LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,548 shares of the asset manager's stock after selling 1,663 shares during the quarter. Blackstone comprises approximately 3.7% of GFG Capital LLC's portfolio, making the stock its 8th biggest holding. GFG Capital LLC's holdings in Blackstone were worth $14,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Sather Financial Group Inc raised its position in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager's stock worth $926,000 after buying an additional 4,050 shares during the period. Portside Wealth Group LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at about $201,000. Aljian Capital Management LLC acquired a new stake in Blackstone during the 3rd quarter worth approximately $1,951,000. Icon Wealth Advisors LLC lifted its position in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager's stock valued at $2,901,000 after buying an additional 18,117 shares in the last quarter. Finally, Wealthcare Capital Partners LLC acquired a new stake in shares of Blackstone in the fourth quarter worth $2,102,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BX shares. Barclays decreased their price target on shares of Blackstone from $192.00 to $186.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. Citigroup raised their target price on Blackstone from $170.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, January 31st. StockNews.com downgraded shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a research note on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $172.38.

Blackstone Stock Performance

NYSE:BX traded up $1.75 during trading hours on Tuesday, reaching $166.59. 3,788,046 shares of the stock were exchanged, compared to its average volume of 3,303,787. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $120.28 billion, a P/E ratio of 45.89, a P/E/G ratio of 1.13 and a beta of 1.53. The firm has a 50 day simple moving average of $175.69 and a 200-day simple moving average of $164.79.

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

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.46%. Blackstone's dividend payout ratio is 94.77%.

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.