Acorn Creek Capital LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 311 shares of the investment management company’s stock, valued at approximately $220,000.
Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its position in The Goldman Sachs Group by 28.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after purchasing an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $321,000. Blueshift Asset Management LLC raised its position 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 buying an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. raised its position 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 buying an additional 14,600 shares in the last quarter. Finally, Terra Nova Asset Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $1,643,000. 71.21% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have commented on GS shares. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday. JMP Securities restated a “market perform” rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Keefe, Bruyette & Woods boosted their price target 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. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $727.31.
The Goldman Sachs Group Stock Down 1.9%
NYSE GS opened at $765.14 on Friday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50 day simple moving average is $760.79 and its 200 day simple moving average is $662.94. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The company has a market capitalization of $231.62 billion, a P/E ratio of 16.86, a PEG ratio of 1.44 and a beta of 1.42.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the firm earned $8.62 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.
The Goldman Sachs Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group’s payout ratio is 35.26%.
Insider Activity
In other news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares of the company’s stock, valued at $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by 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.
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