Acadian Asset Management LLC Boosts Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Acadian Asset Management LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 6,702.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 28,637 shares of the investment management company’s stock after buying an additional 28,216 shares during the period. Acadian Asset Management LLC’s holdings in The Goldman Sachs Group were worth $12,949,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GS. Asset Dedication LLC lifted its stake in The Goldman Sachs Group by 2.6% in the second quarter. Asset Dedication LLC now owns 12,126 shares of the investment management company’s stock worth $5,485,000 after acquiring an additional 312 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of The Goldman Sachs Group during the second quarter valued at about $138,000. Norden Group LLC lifted its position in The Goldman Sachs Group by 23.1% during the second quarter. Norden Group LLC now owns 649 shares of the investment management company’s stock valued at $293,000 after acquiring an additional 122 shares during the last quarter. Oxbow Advisors LLC increased its position in shares of The Goldman Sachs Group by 4.3% during the second quarter. Oxbow Advisors LLC now owns 1,221 shares of the investment management company’s stock worth $552,000 after purchasing an additional 50 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 39.2% during the 2nd quarter. Great Lakes Advisors LLC now owns 8,754 shares of the investment management company’s stock valued at $3,960,000 after purchasing an additional 2,467 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. Insiders have sold a total of 4,013,500 shares of company stock valued at $32,181,365 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GS has been the topic of several recent analyst reports. Barclays upped their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Evercore ISI lifted their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Citigroup boosted their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Finally, BMO Capital Markets boosted their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $496.44.

The Goldman Sachs Group Stock Up 1.9 %

The Goldman Sachs Group stock opened at $488.57 on Tuesday. The business’s 50-day moving average price is $489.83 and its 200 day moving average price is $449.31. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The firm has a market cap of $157.55 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 0.74 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $517.26.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.60 billion. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 35.49 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $3.00 dividend. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.46%. The Goldman Sachs Group’s payout ratio is presently 46.86%.

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.