Deutsche Bank AG Purchases 123,153 Shares of Blackstone Inc. (NYSE:BX)

Deutsche Bank AG increased its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,410,552 shares of the asset manager's stock after purchasing an additional 123,153 shares during the quarter. Deutsche Bank AG owned 0.20% of Blackstone worth $243,207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BX. Hager Investment Management Services LLC purchased a new position in Blackstone in the 4th quarter worth $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone in the 4th quarter worth $30,000. Murphy & Mullick Capital Management Corp bought a new stake in Blackstone in the 4th quarter worth $33,000. Berbice Capital Management LLC bought a new stake in Blackstone in the 4th quarter worth $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Blackstone in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 237 shares of Blackstone stock in a transaction on Monday, May 5th. The stock was acquired at an average cost of $136.33 per share, with a total value of $32,310.21. Following the completion of the acquisition, the director now owns 37,067 shares in the company, valued at approximately $5,053,344.11. This represents a 0.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction on Thursday, May 1st. The shares were acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the completion of the acquisition, the insider now owns 1,666,667 shares of the company's stock, valued at $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 1,660,538 shares of company stock valued at $24,981,930 over the last three months. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BX. TD Cowen cut their price target on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. StockNews.com lowered shares of Blackstone from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Cowen reiterated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company reduced their price target on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Blackstone presently has an average rating of "Hold" and an average target price of $154.82.

Blackstone Stock Down 0.3%

NYSE:BX traded down $0.40 during mid-day trading on Friday, hitting $139.41. 3,113,790 shares of the company's stock were exchanged, compared to its average volume of 3,765,155. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The business has a fifty day moving average price of $136.87 and a 200 day moving average price of $162.18. The company has a market cap of $101.72 billion, a PE ratio of 38.40, a P/E/G ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the prior year, the company posted $0.98 EPS. Equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were issued a dividend of $0.93 per share. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a dividend yield of 2.67%. Blackstone's payout ratio is 112.05%.

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.