Blackstone (NYSE:BX) Given New $188.00 Price Target at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft has lowered its price target for Blackstone from $194.00 to $188.00, while maintaining a "buy" rating, indicating a potential upside of 17.38% from the current price.
• Multiple other brokerages have adjusted their target prices for Blackstone, with estimates ranging from $166.00 to $215.00, reflecting varying levels of confidence in the stock's performance.
• Blackstone's recent quarterly earnings exceeded analyst expectations, reporting earnings per share of $1.21 against a consensus estimate of $1.10, alongside a revenue increase of 32.7% year-over-year.

Blackstone (NYSE:BX - Get Free Report) had its target price lowered by analysts at Deutsche Bank Aktiengesellschaft from $194.00 to $188.00 in a research note issued on Thursday,MarketScreener reports. The firm presently has a "buy" rating on the asset manager's stock. Deutsche Bank Aktiengesellschaft's price objective points to a potential upside of 17.38% from the stock's current price.

Several other brokerages have also weighed in on BX. TD Cowen reduced their price objective on Blackstone from $215.00 to $208.00 and set a "buy" rating for the company in a report on Wednesday. BNP Paribas Exane raised their target price on Blackstone from $166.00 to $178.00 and gave the stock a "neutral" rating in a research note on Monday, September 29th. JMP Securities lifted their price objective on Blackstone from $180.00 to $195.00 and gave the company a "market outperform" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $168.00 to $180.00 and gave the stock a "market perform" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group upped their price objective on Blackstone from $172.00 to $173.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $179.00.

Blackstone Trading Down 1.4%

NYSE:BX traded down $2.30 during mid-day trading on Thursday, hitting $160.16. The company had a trading volume of 272,497 shares, compared to its average volume of 4,090,414. Blackstone has a fifty-two week low of $115.66 and a fifty-two week high of $200.96. The business's fifty day moving average is $173.11 and its two-hundred day moving average is $154.09. The firm has a market cap of $118.05 billion, a P/E ratio of 43.20, a P/E/G ratio of 1.34 and a beta of 1.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.11. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.77 billion. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The business's revenue was up 32.7% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. As a group, research analysts expect that Blackstone will post 5.87 earnings per share for the current year.

Insider Activity at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 113,000 shares of Blackstone stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the sale, the director owned 695,757 shares of the company's stock, valued at approximately $122,237,547.33. This trade represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 3,727,877 shares of company stock worth $95,046,625 and sold 16,984,634 shares worth $155,181,346. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Blackstone

Institutional investors and hedge funds have recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC increased its holdings in shares of Blackstone by 519,669.1% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager's stock valued at $10,490,411,000 after purchasing an additional 70,118,948 shares during the period. Vanguard Group Inc. grew its position in shares of Blackstone by 2.2% during the 2nd 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 during the period. Geode Capital Management LLC raised its stake in shares of Blackstone by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager's stock worth $2,462,706,000 after purchasing an additional 227,416 shares in the last quarter. Norges Bank acquired a new position in Blackstone in the 2nd quarter valued at $1,071,348,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Blackstone by 16.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager's stock worth $739,761,000 after purchasing an additional 742,829 shares in the last quarter. 70.00% of the stock is 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.

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