Blackstone (NYSE:BX) Given New $164.00 Price Target at Deutsche Bank Aktiengesellschaft

Blackstone (NYSE:BX) had its target price lowered by analysts at Deutsche Bank Aktiengesellschaft from $166.00 to $164.00 in a note issued to investors on Friday,MarketScreener reports. The firm currently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 15.91% from the company’s current price.

A number of other equities analysts have also recently issued reports on BX. Jefferies Financial Group cut their price objective on Blackstone from $207.00 to $199.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Morgan Stanley increased their price target on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. HSBC lowered their price objective on shares of Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. The Goldman Sachs Group lifted their target price on shares of Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Finally, BMO Capital Markets reduced their price objective on Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $179.00.

Blackstone Price Performance

Shares of BX stock traded up $1.96 during trading on Friday, hitting $141.49. The company had a trading volume of 1,001,641 shares, compared to its average volume of 4,158,748. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone has a 52 week low of $115.66 and a 52 week high of $200.96. The stock has a market capitalization of $104.48 billion, a price-to-earnings ratio of 40.44, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The stock’s 50-day moving average is $163.69 and its two-hundred day moving average is $157.54.

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

Insider Transactions at Blackstone

In related news, Director Ruth Porat bought 324 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was purchased at an average cost of $146.92 per share, with a total value of $47,602.08. Following the transaction, the director owned 39,077 shares in the company, valued at approximately $5,741,192.84. This trade represents a 0.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of Blackstone stock in a transaction that occurred on Monday, September 22nd. The shares were bought at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the transaction, the insider directly owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 2,565,543 shares of company stock worth $69,050,139. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BX. Vident Advisory LLC boosted its position in shares of Blackstone by 3.0% during the third quarter. Vident Advisory LLC now owns 21,699 shares of the asset manager’s stock valued at $3,707,000 after purchasing an additional 623 shares in the last quarter. Concentric Capital Strategies LP bought a new stake in shares of Blackstone during the 3rd quarter valued at $11,074,000. Caption Management LLC increased its stake in shares of Blackstone by 151.7% in the 3rd quarter. Caption Management LLC now owns 13,900 shares of the asset manager’s stock worth $2,375,000 after acquiring an additional 40,800 shares in the last quarter. Wellington Management Group LLP boosted its stake in Blackstone by 13.2% during the third quarter. Wellington Management Group LLP now owns 134,760 shares of the asset manager’s stock worth $23,024,000 after acquiring an additional 15,760 shares in the last quarter. Finally, South Street Advisors LLC increased its stake in shares of Blackstone by 5.1% during the third quarter. South Street Advisors LLC now owns 56,641 shares of the asset manager’s stock valued at $9,677,000 after purchasing an additional 2,758 shares in the last quarter. Hedge funds and other institutional investors own 70.00% 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.