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

by · The Cerbat Gem

Longboard Asset Management LP bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 386 shares of the investment management company’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $25,000. Mascagni Wealth Management Inc. acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group in the first quarter valued at approximately $29,000. Godsey & Gibb Inc. grew its position in The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after acquiring an additional 34 shares in the last quarter. Finally, Lowe Wealth Advisors LLC grew its position in The Goldman Sachs Group by 326.7% in the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GS. 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. 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 report on Thursday, July 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Citigroup increased their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Finally, Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $665.00.

Check Out Our Latest Analysis on The Goldman Sachs Group

The Goldman Sachs Group Stock Performance

Shares of GS opened at $794.19 on Thursday. The business’s fifty day moving average price is $734.11 and its 200 day moving average price 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 stock has a market capitalization of $240.42 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41. 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 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 (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $13.53 billion. During the same period last year, the business posted $8.62 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current 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 dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.26%.

Insider Transactions at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company’s stock.

About The Goldman Sachs Group

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS – Free Report).