Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $172.00 to $182.00 in a report issued on Monday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the asset manager’s stock.

A number of other brokerages have also recently commented on BX. Wells Fargo & Company boosted their price target on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Bank of America increased their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Citigroup increased their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price target on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $157.63.

Blackstone Stock Up 3.2 %

Shares of NYSE:BX opened at $183.16 on Monday. The stock’s 50-day moving average price is $157.11 and its 200-day moving average price is $138.18. Blackstone has a 12-month low of $96.93 and a 12-month high of $183.96. The stock has a market capitalization of $132.24 billion, a P/E ratio of 62.94, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49. The company has a current ratio of 0.71, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. On average, equities analysts anticipate that Blackstone will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.88%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blackstone

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the second quarter valued at $26,000. EdgeRock Capital LLC acquired a new position in Blackstone during the second quarter valued at $27,000. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter valued at $27,000. Bank & Trust Co acquired a new position in shares of Blackstone in the second quarter worth about $29,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Blackstone in the second quarter worth about $31,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.