386 Shares in The Goldman Sachs Group, Inc. $GS Purchased by Longboard Asset Management LP

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GS. GAMMA Investing LLC grew its stake in The Goldman Sachs Group by 63,864.7% in the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock valued at $2,172,423,000 after purchasing an additional 3,970,467 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth about $1,766,238,000. Nuveen LLC purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth about $897,185,000. Assenagon Asset Management S.A. grew its stake in shares of The Goldman Sachs Group by 102.6% during the first quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock worth $8,065,000 after acquiring an additional 585,084 shares during the last quarter. Finally, Cohen Investment Advisors LLC grew its stake in shares of The Goldman Sachs Group by 5,559.2% during the first quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company's stock worth $256,876,000 after acquiring an additional 461,911 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded up $0.20 during midday trading on Monday, reaching $805.20. 1,150,956 shares of the company's stock traded hands, compared to its average volume of 1,696,610. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $809.66. The company has a market cap of $243.75 billion, a P/E ratio of 17.74, a PEG ratio of 1.68 and a beta of 1.41. 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 company has a fifty day simple moving average of $739.87 and a two-hundred day simple moving average of $640.52.

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

The Goldman Sachs Group Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GS shares. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Morgan Stanley lifted their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $665.00.

Insider Transactions at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer directly owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction on Wednesday, August 27th. The shares were 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 approximately $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 in the last 90 days. 0.55% of the stock is owned by company insiders.

About The Goldman Sachs Group

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.