Acadian Asset Management LLC raised its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 407.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 421 shares of the investment management company’s stock after buying an additional 338 shares during the quarter. Acadian Asset Management LLC’s holdings in The Goldman Sachs Group were worth $175,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of GS. TIAA Trust National Association raised its stake in The Goldman Sachs Group by 504.6% in the 1st quarter. TIAA Trust National Association now owns 37,639 shares of the investment management company’s stock valued at $15,721,000 after purchasing an additional 31,414 shares during the last quarter. Cornerstone Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 2.2% during the first quarter. Cornerstone Advisors LLC now owns 18,900 shares of the investment management company’s stock worth $7,894,000 after buying an additional 400 shares in the last quarter. Hoey Investments Inc. raised its position in shares of The Goldman Sachs Group by 2,793.1% in the first quarter. Hoey Investments Inc. now owns 1,678 shares of the investment management company’s stock valued at $701,000 after buying an additional 1,620 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of The Goldman Sachs Group by 1.3% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,866 shares of the investment management company’s stock valued at $779,000 after buying an additional 24 shares during the period. Finally, First Foundation Advisors boosted its position in The Goldman Sachs Group by 17.0% during the first quarter. First Foundation Advisors now owns 625 shares of the investment management company’s stock worth $261,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.
Insider Activity at The Goldman Sachs Group
In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares in the company, valued at $6,287,748. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the transaction, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. In the last three months, insiders sold 4,013,500 shares of company stock valued at $32,181,365. Corporate insiders own 0.54% of the company’s stock.
Analysts Set New Price Targets
GS has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $461.00 to $464.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Citigroup lifted their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Royal Bank of Canada increased their price objective on shares of The Goldman Sachs Group from $435.00 to $500.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 16th. Finally, Argus upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price for the company in a report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.59.
Check Out Our Latest Research Report on The Goldman Sachs Group
The Goldman Sachs Group Stock Performance
The Goldman Sachs Group stock opened at $499.03 on Monday. The firm has a market capitalization of $160.92 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.01 and a beta of 1.37. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $509.48. The stock’s 50 day moving average price is $466.04 and its 200 day moving average price is $425.00. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.74 and a current ratio of 1.12.
The Goldman Sachs Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $3.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s payout ratio is presently 42.95%.
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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