Woodline Partners LP Buys 7,511 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Woodline Partners LP increased its stake in The Goldman Sachs Group, purchasing an additional 7,511 shares, raising its total holdings by 39.8% to 26,363 shares, valued at $14.4 million.
• The Goldman Sachs Group reported $10.91 EPS for the quarter, surpassing estimates of $9.82, with a revenue of $14.58 billion, marking a 14.5% year-over-year increase.
• The company announced a quarterly dividend increase to $4.00 per share, up from the previous $3.00, representing an annualized yield of 2.1% and a payout ratio of 35.26%.

Woodline Partners LP grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 39.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,363 shares of the investment management company's stock after purchasing an additional 7,511 shares during the quarter. Woodline Partners LP's holdings in The Goldman Sachs Group were worth $14,402,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. King Wealth Management Group raised its holdings in The Goldman Sachs Group by 1.8% in the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after purchasing an additional 19 shares in the last quarter. Raab & Moskowitz Asset Management LLC raised its holdings in The Goldman Sachs Group by 0.9% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company's stock worth $1,104,000 after purchasing an additional 19 shares in the last quarter. Wynn Capital LLC grew its position in shares of The Goldman Sachs Group by 0.3% in the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after buying an additional 20 shares during the period. 1900 Wealth Management LLC grew its position in shares of The Goldman Sachs Group by 2.6% in the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after buying an additional 20 shares during the period. Finally, Register Financial Advisors LLC grew its position in shares of The Goldman Sachs Group by 2.5% in the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock worth $440,000 after buying an additional 20 shares during the period. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $769.95 on Thursday. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $774.47. The company's 50-day moving average is $726.53 and its 200 day moving average is $629.25. The company has a market capitalization of $233.08 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.60 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 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 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the firm posted $8.62 EPS. The Goldman Sachs Group's revenue for the quarter was up 14.5% on a year-over-year basis. Sell-side analysts expect 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 given a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend and a yield of 2.1%. The Goldman Sachs Group's payout ratio is currently 35.26%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GS. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $660.00.

Insider Activity

In other news, COO John E. Waldron sold 9,000 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares of the company's stock, valued at $79,755,196.68. This trade represents a 7.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Company 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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