MBM Wealth Consultants LLC Purchases Shares of 7,698 Blackstone Inc. $BX

MBM Wealth Consultants LLC acquired a new stake in Blackstone Inc. (NYSE:BX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,698 shares of the asset manager’s stock, valued at approximately $1,151,000.

Other large investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its position in shares of Blackstone by 519,669.1% in the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after purchasing an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. increased its position in Blackstone by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after buying an additional 1,494,796 shares during the period. Geode Capital Management LLC boosted its position in shares of Blackstone by 1.4% in the second quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after acquiring an additional 227,416 shares during the period. Norges Bank bought a new position in Blackstone during the second quarter worth about $1,071,348,000. Finally, Goldman Sachs Group Inc. raised its stake in Blackstone by 16.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after purchasing an additional 742,829 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Transactions at Blackstone

In related news, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of Blackstone stock in a transaction on Monday, September 22nd. The shares were purchased at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the transaction, the insider owned 7,506,209 shares of the company’s stock, valued at approximately $192,234,012.49. This represents a 51.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average cost of $25.96 per share, for a total transaction of $9,999,999.68. Following the completion of the purchase, the insider owned 16,332,883 shares of the company’s stock, valued at $424,001,642.68. This trade represents a 2.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 2,950,751 shares of company stock worth $79,050,138. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BX has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Jefferies Financial Group dropped their price objective on Blackstone from $199.00 to $187.00 in a report on Monday, November 10th. Citigroup dropped their price target on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. HSBC decreased their target price on shares of Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. Finally, Morgan Stanley increased their price target on shares of Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Blackstone Price Performance

Shares of NYSE:BX opened at $146.48 on Monday. The firm has a 50 day simple moving average of $155.09 and a 200 day simple moving average of $158.05. The company has a market cap of $108.16 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a one year low of $115.66 and a one year high of $194.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The company had revenue of $2.49 billion during the quarter. Research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were given a dividend of $1.29 per share. The ex-dividend date was Monday, November 3rd. This represents a $5.16 annualized dividend and a yield of 3.5%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is 147.43%.

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.