Blackstone (NYSE:BX) Stock Acquired Rep. Marjorie Taylor Greene

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Blackstone Inc. (NYSE:BX). In a filing disclosed on November 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Blackstone stock on November 7th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Southern (NYSE:SO) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Hershey (NYSE:HSY) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Palo Alto Networks (NASDAQ:PANW) on 11/7/2024.

Blackstone Stock Performance

NYSE:BX traded down $4.45 during mid-day trading on Tuesday, reaching $178.71. The company’s stock had a trading volume of 807,471 shares, compared to its average volume of 3,417,008. 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 Inc. has a 12-month low of $96.93 and a 12-month high of $183.96. The stock has a market cap of $129.03 billion, a P/E ratio of 62.94, a PEG ratio of 1.52 and a beta of 1.49. The firm’s fifty day moving average price is $157.93 and its two-hundred day moving average price is $138.60.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. On average, equities analysts forecast that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.92%. Blackstone’s payout ratio is presently 118.21%.

Hedge Funds Weigh In On Blackstone

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norden Group LLC raised its holdings in shares of Blackstone by 44.2% during the 1st quarter. Norden Group LLC now owns 2,427 shares of the asset manager’s stock worth $319,000 after acquiring an additional 744 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Blackstone during the first quarter worth approximately $64,000. Advisory Alpha LLC raised its position in Blackstone by 28.8% in the 1st quarter. Advisory Alpha LLC now owns 2,126 shares of the asset manager’s stock valued at $279,000 after purchasing an additional 476 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Blackstone by 45.2% during the 1st quarter. Empirical Finance LLC now owns 3,419 shares of the asset manager’s stock worth $449,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Blackstone by 1.3% in the 1st quarter. Empowered Funds LLC now owns 23,179 shares of the asset manager’s stock valued at $3,045,000 after purchasing an additional 295 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent research reports. Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Barclays lifted their price objective on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. UBS Group upped their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America increased their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $157.63.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the company’s 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. 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.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

Blackstone Company Profile

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.