Deutsche Bank Aktiengesellschaft Lowers Blackstone (NYSE:BX) Price Target to $180.00

Blackstone (NYSE:BXGet Rating) had its target price lowered by Deutsche Bank Aktiengesellschaft from $182.00 to $180.00 in a research report report published on Thursday morning, The Fly reports.

Several other research firms also recently weighed in on BX. Citigroup cut their price target on Blackstone from $132.50 to $117.00 and set a neutral rating on the stock in a research note on Tuesday, April 12th. BNP Paribas downgraded Blackstone from an outperform rating to a neutral rating and set a $135.00 target price on the stock. in a research note on Thursday, April 7th. Bank of America increased their target price on Blackstone from $172.00 to $180.00 and gave the company a buy rating in a research note on Friday, April 22nd. Morgan Stanley cut their target price on Blackstone from $166.00 to $154.00 and set an overweight rating on the stock in a research note on Wednesday, April 20th. Finally, Jefferies Financial Group reiterated a buy rating and set a $155.00 target price on shares of Blackstone in a research note on Wednesday, April 13th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Blackstone currently has an average rating of Hold and an average price target of $139.55.

Shares of NYSE:BX opened at $103.54 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $72.55 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.11 and a beta of 1.38. The stock has a 50 day moving average price of $114.12 and a 200-day moving average price of $124.11. Blackstone has a 52-week low of $85.74 and a 52-week high of $149.78.

Blackstone (NYSE:BXGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The asset manager reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.47. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $2.54 billion. Blackstone had a return on equity of 19.20% and a net margin of 23.77%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 EPS. On average, equities analysts forecast that Blackstone will post 5.71 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 9th. Investors of record on Monday, May 2nd were issued a $1.32 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.93. This represents a $5.28 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend was Friday, April 29th. Blackstone’s dividend payout ratio (DPR) is currently 71.93%.

In other news, Director Ruth Porat acquired 5,000 shares of the business’s stock in a transaction dated Friday, February 25th. The stock was purchased at an average price of $126.21 per share, for a total transaction of $631,050.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tactical Opportunit Blackstone acquired 2,500,000 shares of the business’s stock in a transaction dated Friday, April 29th. The shares were purchased at an average price of $4.00 per share, with a total value of $10,000,000.00. Following the transaction, the insider now owns 26,839,187 shares of the company’s stock, valued at $107,356,748. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,510,050 shares of company stock worth $11,184,437 and sold 1,090,152 shares worth $66,040,454. 1.00% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of BX. Marshall Wace LLP purchased a new position in Blackstone in the first quarter worth about $50,000. Morgan Stanley grew its position in Blackstone by 9.0% in the second quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock worth $1,989,163,000 after acquiring an additional 1,691,281 shares in the last quarter. Principal Financial Group Inc. grew its position in Blackstone by 50.9% in the third quarter. Principal Financial Group Inc. now owns 151,869 shares of the asset manager’s stock worth $17,668,000 after acquiring an additional 51,195 shares in the last quarter. Banque Pictet & Cie SA purchased a new position in Blackstone in the third quarter worth about $204,000. Finally, Panagora Asset Management Inc. grew its position in Blackstone by 19.5% in the third quarter. Panagora Asset Management Inc. now owns 28,628 shares of the asset manager’s stock worth $3,331,000 after acquiring an additional 4,676 shares in the last quarter. Hedge funds and other institutional investors own 63.68% of the company’s stock.

About Blackstone (Get Rating)

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.

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