Longboard Asset Management LP Acquires Shares of 386 The Goldman Sachs Group, Inc. $GS

Key Points

• Longboard Asset Management LP acquired 386 shares of The Goldman Sachs Group, valued at approximately $273,000, reflecting a strategic investment during the 2nd quarter.
• Recent insider activity includes CFO Denis P. Coleman selling 7,463 shares and COO John E. Waldron selling 9,244 shares, indicating potential liquidity strategy adjustments amidst hefty transactions.
• The Goldman Sachs Group announced a quarterly dividend increase to $4.00 per share, enhancing its annualized dividend yield to 2.0%, up from the previous $3.00 per share.

Longboard Asset Management LP acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 386 shares of the investment management company's stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board grew its stake in shares of The Goldman Sachs Group by 28.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock worth $286,418,000 after purchasing an additional 116,535 shares during the period. Clear Creek Financial Management LLC acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth $321,000. Blueshift Asset Management LLC grew its stake in shares of The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock worth $576,000 after purchasing an additional 652 shares during the period. Adams Diversified Equity Fund Inc. grew its stake in shares of The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock worth $27,205,000 after purchasing an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth $1,643,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GS. Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. JMP Securities reissued a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $665.00.

Insider Activity at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $794.19 on Thursday. The firm has a market cap of $240.42 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The company's 50-day moving average is $734.11 and its two-hundred day moving average is $635.07. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $798.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $8.62 EPS. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS 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. Stockholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend 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 payout ratio is currently 35.26%.

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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