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

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 Up 1.6 %

Blackstone stock opened at $169.66 on Friday. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $175.94. The stock’s fifty day simple moving average is $149.16 and its 200-day simple moving average is $134.15. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $121.25 billion, a P/E ratio of 59.95, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be given a dividend of $0.86 per share. The ex-dividend date is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 121.55%.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly 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. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BX. TD Cowen boosted their target price on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Morgan Stanley boosted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price 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. Evercore ISI boosted their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets boosted their target price on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $155.38.

Institutional Trading of Blackstone

A number of hedge funds have recently added to or reduced their stakes in BX. Wulff Hansen & CO. lifted its position in Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after acquiring an additional 7,281,128 shares during the period. International Assets Investment Management LLC raised its stake in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after buying an additional 4,173,971 shares in the last quarter. Capital World Investors raised its stake in shares of Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after buying an additional 2,546,886 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after buying an additional 1,873,573 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Blackstone by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after buying an additional 1,290,324 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

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.