Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Blackstone (NYSE:BX) Stock

Blackstone (NYSE:BX) had its price objective boosted by stock analysts at Deutsche Bank Aktiengesellschaft from $164.00 to $185.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 19.58% from the stock’s previous close.

A number of other research firms have also recently commented on BX. Citigroup reduced their price target on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Jefferies Financial Group decreased their price objective on shares of Blackstone from $199.00 to $187.00 in a research note on Monday, November 10th. TD Cowen lowered their price objective on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. BNP Paribas Exane dropped their price target on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Finally, Barclays increased their price target on shares of Blackstone from $165.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.95.

Blackstone Price Performance

Shares of NYSE BX opened at $154.71 on Wednesday. Blackstone has a fifty-two week low of $115.66 and a fifty-two week high of $190.09. The stock has a market capitalization of $114.25 billion, a PE ratio of 43.85, a P/E/G ratio of 1.20 and a beta of 1.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The business has a fifty day moving average price of $149.83 and a two-hundred day moving average price of $158.99.

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

Insider Buying and Selling

In other news, major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were purchased at an average price 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 in the company, valued at approximately $424,001,642.68. This represents a 2.42% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 113,000 shares of the stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total value of $19,852,970.00. Following the transaction, the director directly owned 695,757 shares in the company, valued at $122,237,547.33. The trade was a 13.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have purchased a total of 2,950,751 shares of company stock worth $79,050,138 over the last quarter. 1.00% of the stock is owned by insiders.

Institutional Trading of Blackstone

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Perigon Wealth Management LLC lifted its stake in Blackstone by 3.2% in the second quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock valued at $9,346,000 after buying an additional 1,949 shares during the period. Vanguard Group Inc. grew its holdings in shares of Blackstone by 2.2% during the second 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 in the last quarter. Redmond Asset Management LLC lifted its position in Blackstone by 21.2% during the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after buying an additional 3,281 shares in the last quarter. Kera Capital Partners Inc. bought a new stake in Blackstone during the second quarter worth $273,000. Finally, Bourgeon Capital Management LLC acquired a new position in Blackstone during the second quarter worth approximately $423,000. 70.00% of the stock is currently owned by 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.