Alphabet’s Chief Financial Officer Bought Up Stock. It Wasn’t Alphabet’s.
Blackstone stock has slumped so far in 2022, and director Ruth Porat just bought shares of the private-equity firm on the open market. Blackstone (ticker: BX) stock has fallen 22% year to date, compared with a 13% drop in the S&P 500 index Blackstone reported strong first-quarter earnings in April, and announced a dividend increase. Also that month, Blackstone announced two real-estate deals: a $7.6 billion acquisition of real-estate investment trust PS Business Parks (PSB), and a $12.8 billion buy of student-housing owner American Campus Communities (ACC).