Deutsche Bank AG Has $313.99 Million Stake in Blackstone Inc. $BX

Key Points

• Deutsche Bank AG increased its Blackstone stake by 6.4% in the fourth quarter, holding about 2.04 million shares valued at roughly $314 million.
• Blackstone beat earnings expectations in its latest quarter, reporting EPS of $1.36 versus $1.34 expected, while revenue rose 10% year over year to $3.43 billion.
• Analysts remain broadly constructive on BX, with a consensus rating of “Moderate Buy” and an average price target of $150.86; the stock recently traded around $118.71 and also pays a quarterly dividend of $1.16.

Deutsche Bank AG lifted its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,037,033 shares of the asset manager's stock after purchasing an additional 122,017 shares during the quarter. Deutsche Bank AG owned 0.28% of Blackstone worth $313,988,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Family CFO Inc bought a new stake in Blackstone during the fourth quarter worth $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone during the fourth quarter worth $28,000. Richardson Financial Services Inc. bought a new stake in Blackstone during the fourth quarter worth $29,000. Redmont Wealth Advisors LLC bought a new stake in Blackstone during the third quarter worth $30,000. Finally, Strive Asset Management LLC bought a new stake in Blackstone during the third quarter worth $30,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is co-partnering on a $35 billion AI infrastructure platform with Broadcom and Apollo, which could open a large new source of fee-related and credit-driven growth. Broadcom, Apollo, Blackstone Launch $35 Billion AI Infrastructure Platform
• Positive Sentiment: Reuters reported that Blackstone’s private wealth inflows improved in June, a favorable sign for fundraising and asset growth. Blackstone's private wealth inflows improved in June, president says
• Positive Sentiment: One market commentary argued Blackstone is being sold off too aggressively and remains attractively valued, citing resilient underwriting, diversified earnings, and potential AI and perpetual-capital growth drivers. Blackstone: The Market Is Selling Over A Problem That Doesn't Exist

Insiders Place Their Bets

In related news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the business's stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the purchase, the insider directly owned 9,111,800 shares in the company, valued at $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vikrant Sawhney sold 30,014 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the completion of the transaction, the insider owned 899,669 shares of the company's stock, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have purchased 12,355,303 shares of company stock worth $264,789,896 over the last quarter. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BX. BMO Capital Markets upped their price target on Blackstone from $126.00 to $132.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. The Goldman Sachs Group decreased their price target on Blackstone from $118.00 to $116.00 and set a "neutral" rating for the company in a report on Friday, April 24th. Piper Sandler upped their price target on Blackstone from $122.00 to $130.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Royal Bank Of Canada started coverage on Blackstone in a research note on Monday. They issued an "outperform" rating for the company. Finally, TD Cowen reduced their price objective on Blackstone from $140.00 to $133.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Blackstone presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.86.

Blackstone Stock Down 1.3%

BX stock opened at $118.71 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $88.19 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 1.30 and a beta of 1.59. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The stock has a fifty day moving average of $119.69 and a 200-day moving average of $131.24.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The firm's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 EPS. As a group, equities research analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 3.9%. Blackstone's dividend payout ratio (DPR) is currently 118.67%.

Blackstone Company Profile

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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