Acadian Asset Management LLC Raises Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Acadian Asset Management LLC increased its holdings in The Goldman Sachs Group by 14.5% during the first quarter, bringing their total number of shares to 13,729 valued at approximately $7.5 million.
• The Goldman Sachs Group reported a 10.91 earnings per share for their last quarter, exceeding analysts' estimates and showing a 14.5% increase in revenue year-over-year.
• The company announced a quarterly dividend increase from $3.00 to $4.00 per share, effective September 29th, representing a 2.0% dividend yield on an annualized basis.

Acadian Asset Management LLC grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,729 shares of the investment management company's stock after purchasing an additional 1,741 shares during the period. Acadian Asset Management LLC's holdings in The Goldman Sachs Group were worth $7,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $25,000. Mascagni Wealth Management Inc. purchased a new position in The Goldman Sachs Group in the 4th quarter worth $31,000. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group in the 1st quarter worth $29,000. Godsey & Gibb Inc. raised its stake in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Finally, Lowe Wealth Advisors LLC raised its stake in The Goldman Sachs Group by 326.7% in the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $780.87 on Friday. The stock has a 50-day simple moving average of $728.85 and a two-hundred day simple moving average of $631.49. The firm has a market capitalization of $236.39 billion, a P/E ratio of 17.21, a PEG ratio of 1.65 and a beta of 1.41. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $793.17. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company's revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $8.62 EPS. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO John E. Waldron sold 9,244 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares of the company's stock, valued at $86,463,679.48. The trade was a 7.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,323 shares of company stock worth $28,111,828. Corporate insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GS shares. Keefe, Bruyette & Woods raised their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Citigroup raised their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Morgan Stanley raised their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.

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