Blackstone (NYSE:BX) Price Target Cut to $146.00 by Analysts at Deutsche Bank Aktiengesellschaft

Blackstone (NYSE:BXFree Report) had its target price reduced by Deutsche Bank Aktiengesellschaft from $156.00 to $146.00 in a report released on Friday morning,MarketScreener reports. They currently have a buy rating on the asset manager’s stock.

Other analysts have also recently issued reports about the stock. Royal Bank Of Canada lowered their target price on shares of Blackstone from $179.00 to $176.00 and set an “outperform” rating for the company in a research note on Monday, April 20th. Morgan Stanley lowered their target price on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday. The Goldman Sachs Group lowered their target price on shares of Blackstone from $158.00 to $118.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Citizens Jmp decreased their price objective on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a research note on Wednesday. Finally, Argus decreased their price objective on shares of Blackstone from $195.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $151.45.

Read Our Latest Report on Blackstone

Blackstone Stock Down 0.5%

BX stock opened at $121.77 on Friday. The firm has a 50 day moving average of $116.60 and a 200 day moving average of $138.34. The stock has a market capitalization of $90.38 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 1.27 and a beta of 1.74. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone has a 52 week low of $101.73 and a 52 week high of $190.09.

Blackstone (NYSE:BXGet Free Report) last released its earnings results on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. Blackstone’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. Sell-side analysts forecast that Blackstone will post 6.12 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Monday, May 4th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, May 4th. Blackstone’s payout ratio is presently 153.61%.

Insider Buying and Selling at Blackstone

In other news, major shareholder Holdings Iv Gp Mana Blackstone bought 2,868,069 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the purchase, the insider directly owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. This trade represents a 18.20% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the transaction, the insider owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Several large investors have recently made changes to their positions in BX. REAP Financial Group LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at $26,000. Family CFO Inc acquired a new position in shares of Blackstone in the 4th quarter valued at $28,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone in the 4th quarter valued at $28,000. Richardson Financial Services Inc. purchased a new stake in Blackstone in the 4th quarter worth $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Blackstone in the 3rd quarter worth $30,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Blackstone

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About Blackstone

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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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