Deutsche Bank Aktiengesellschaft Lowers Blackstone (NYSE:BX) Price Target to $164.00

Blackstone (NYSE:BX) had its target price decreased by analysts at Deutsche Bank Aktiengesellschaft from $166.00 to $164.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 15.91% from the company’s previous close.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their target price on Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Evercore ISI reduced their price objective on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. HSBC decreased their price target on Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. Finally, Morgan Stanley upped their target price on Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Blackstone has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Blackstone Trading Up 1.4%

Shares of BX stock traded up $1.96 during trading hours on Friday, hitting $141.49. 1,001,641 shares of the company’s stock traded hands, 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 12 month low of $115.66 and a 12 month high of $200.96. The stock has a market cap of $104.48 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The stock’s 50 day simple moving average is $163.69 and its 200 day simple moving average is $157.54.

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

Insider Activity

In other news, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the transaction, the director directly owned 695,757 shares in the company, valued at $122,237,547.33. This trade represents a 13.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Breyer bought 13,900 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the acquisition, the director directly owned 68,906 shares in the company, valued at $9,912,817.16. The trade was a 25.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 2,565,543 shares of company stock valued at $69,050,139. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vident Advisory LLC lifted its holdings in 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 during the last quarter. Concentric Capital Strategies LP bought a new position in Blackstone in the 3rd quarter worth approximately $11,074,000. Caption Management LLC grew its stake in Blackstone by 151.7% in the 3rd quarter. Caption Management LLC now owns 13,900 shares of the asset manager’s stock valued at $2,375,000 after buying an additional 40,800 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of 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 grew its position in shares of Blackstone by 5.1% in 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. 70.00% of the stock is owned by hedge funds and other institutional investors.

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.