Rep. Marjorie Taylor Greene Purchases Shares of Blackstone Inc. (NYSE:BX)

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Blackstone Inc. (NYSE:BX). In a filing disclosed on October 22nd, the Representative disclosed that they had bought between $1,001 and $15,000 in Blackstone stock on October 21st.

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

• Purchased $1,001 – $15,000 in shares of Caterpillar (NYSE:CAT) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of ASML (NASDAQ:ASML) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Nestlé (OTCMKTS:NSRGY) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 10/21/2024.
• Purchased $1,001 – $15,000 in shares of Costco Wholesale (NASDAQ:COST) on 10/4/2024.

Blackstone Stock Down 1.7 %

Shares of BX traded down $2.85 during mid-day trading on Wednesday, hitting $165.65. 1,615,657 shares of the company’s stock were exchanged, compared to its average volume of 3,440,861. The company has a 50-day simple moving average of $148.54 and a 200 day simple moving average of $133.92. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $118.38 billion, a PE ratio of 59.53, a P/E/G ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $175.94.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 121.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their price target on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. TD Cowen raised their target price on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $155.38.

Hedge Funds Weigh In On Blackstone

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BX. Chilton Capital Management LLC bought a new position in Blackstone in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone during the 2nd quarter worth $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone in the second quarter valued at about $27,000. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter worth about $27,000. Finally, Bank & Trust Co acquired a new stake in shares of Blackstone in the 2nd quarter valued at approximately $29,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. 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 35,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was 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 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.