Deutsche Bank AG Grows Position in Blackstone Inc. $BX

Deutsche Bank AG raised its holdings in Blackstone Inc. (NYSE:BX) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,037,033 shares of the asset manager’s stock after acquiring an additional 122,017 shares during the period. Deutsche Bank AG’s holdings in Blackstone were worth $313,988,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Capital Analysts LLC raised its holdings in shares of Blackstone by 9.3% in the 4th quarter. Capital Analysts LLC now owns 8,382 shares of the asset manager’s stock valued at $1,292,000 after acquiring an additional 716 shares in the last quarter. Paragon Private Wealth Management LLC raised its holdings in shares of Blackstone by 3.8% during the 4th quarter. Paragon Private Wealth Management LLC now owns 4,610 shares of the asset manager’s stock valued at $711,000 after buying an additional 170 shares in the last quarter. Portfolio Design Labs LLC raised its holdings in shares of Blackstone by 3.2% during the 4th quarter. Portfolio Design Labs LLC now owns 8,154 shares of the asset manager’s stock valued at $1,257,000 after buying an additional 250 shares in the last quarter. Insight Advisors LLC PA raised its holdings in shares of Blackstone by 1.6% during the 4th quarter. Insight Advisors LLC PA now owns 14,841 shares of the asset manager’s stock valued at $2,287,000 after buying an additional 233 shares in the last quarter. Finally, Everett Harris & Co. CA raised its holdings in shares of Blackstone by 25.7% during the 4th quarter. Everett Harris & Co. CA now owns 2,432 shares of the asset manager’s stock valued at $375,000 after buying an additional 497 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

BX opened at $118.71 on Thursday. The stock’s 50 day simple moving average is $119.69 and its 200 day simple moving average is $131.24. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.76 and a quick ratio of 0.76. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The firm has a market cap 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 (NYSE:BX) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. As a group, analysts predict that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the transaction, the insider owned 18,628,295 shares in the company, valued at $487,129,914.25. This represents a 18.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider owned 9,111,800 shares in the company, valued at approximately $182,236,000. The trade was a -2,529.85% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 12,355,303 shares of company stock worth $264,789,896. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BX. BMO Capital Markets raised their price objective on Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, April 13th. JPMorgan Chase & Co. decreased their price objective on Blackstone from $142.00 to $136.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Argus decreased their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Morgan Stanley reduced their price target on Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Finally, Sanford C. Bernstein assumed coverage on Blackstone in a research report on Monday. They set an “outperform” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Moderate Buy” and an average price target of $150.86.

Trending Headlines about 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

About Blackstone

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.