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 Stock Performance

Shares of BX stock opened at $183.16 on Tuesday. The company 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. The company has a 50-day simple moving average of $157.93 and a 200 day simple moving average of $138.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. Blackstone Inc. has a 52 week low of $96.93 and a 52 week high of $183.96.

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

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid 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 boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is 118.21%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BX. UBS Group lifted their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Bank of America raised their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group upped their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and an average price target of $157.63.

Hedge Funds Weigh In On Blackstone

Several institutional investors have recently made changes to their positions in BX. Portside Wealth Group LLC bought a new position in Blackstone in the third quarter worth approximately $201,000. Wealth Enhancement Advisory Services LLC lifted its position in Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after purchasing an additional 7,692 shares in the last quarter. Blue Trust Inc. increased its position in Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after buying an additional 5,383 shares in the last quarter. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Blackstone during the 3rd quarter valued at about $557,000. Finally, Scientech Research LLC purchased a new stake in Blackstone in the 2nd quarter worth approximately $1,364,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related 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 transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $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. Insiders own 1.00% of the company’s stock.

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.

About Blackstone

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.