Deutsche Bank Aktiengesellschaft Lowers Blackstone (NYSE:BX) Price Target to $146.00

Blackstone (NYSE:BXGet Free Report) had its target price lowered by analysts at Deutsche Bank Aktiengesellschaft from $156.00 to $146.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The firm presently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 19.89% from the stock’s previous close.

BX has been the subject of several other research reports. Oppenheimer lifted their price objective on Blackstone from $154.00 to $156.00 and gave the company an “outperform” rating in a research report on Friday. Citizens Jmp cut their price objective on Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a research report on Wednesday. Morgan Stanley cut their price objective on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. TD Cowen cut their price objective on Blackstone from $164.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a research report on Monday, April 20th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.36.

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Blackstone Price Performance

Shares of BX stock opened at $121.77 on Friday. The stock has a 50 day moving average of $116.60 and a two-hundred day moving average of $138.16. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a market capitalization of $90.38 billion, a P/E ratio of 31.14, a P/E/G ratio of 1.27 and a beta of 1.74.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the company posted $1.11 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that Blackstone will post 6.12 EPS for the current year.

Insider Activity

In other news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the transaction, the insider owned 18,628,295 shares of the company’s stock, valued at $487,129,914.25. The trade was a 18.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Institutional investors and hedge funds have recently made changes to their positions in the company. REAP Financial Group LLC bought a new stake in shares of Blackstone in the third quarter valued at approximately $26,000. Family CFO Inc bought a new stake in Blackstone during the fourth quarter worth $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone during the fourth quarter worth $28,000. Richardson Financial Services Inc. acquired a new position in shares of Blackstone during the fourth quarter worth $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Blackstone during the third quarter worth $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Key Headlines Impacting Blackstone

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Blackstone Company Profile

(Get Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

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