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

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 Trading Up 3.2 %

Shares of BX opened at $183.16 on Tuesday. Blackstone Inc. has a 1-year low of $96.93 and a 1-year high of $183.96. The company has a current ratio of 0.71, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average price is $157.11 and its 200-day moving average price is $138.18. The firm has a market capitalization of $132.24 billion, a price-to-earnings ratio of 62.94, a PEG ratio of 1.52 and a beta of 1.49.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Sell-side analysts anticipate that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the 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 approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade 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 owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC grew its position in shares of Blackstone by 5.3% in the 3rd quarter. LPL Financial LLC now owns 950,565 shares of the asset manager’s stock worth $145,560,000 after buying an additional 47,607 shares during the last quarter. Trustmark National Bank Trust Department lifted its stake in Blackstone by 5.0% during the 3rd quarter. Trustmark National Bank Trust Department now owns 2,100 shares of the asset manager’s stock valued at $322,000 after acquiring an additional 100 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in Blackstone during the third quarter worth $2,008,000. Intech Investment Management LLC purchased a new position in Blackstone in the third quarter valued at $631,000. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of Blackstone by 22.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 17,238 shares of the asset manager’s stock worth $2,640,000 after acquiring an additional 3,126 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on BX. TD Cowen boosted their price target on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Bank of America upped their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Redburn Atlantic assumed coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $157.63.

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.