Acorn Creek Capital LLC Takes $220,000 Position in The Goldman Sachs Group, Inc. $GS

Acorn Creek Capital LLC bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 311 shares of the investment management company’s stock, valued at approximately $220,000.

A number of other hedge funds have also made changes to their positions in GS. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at $25,000. Dogwood Wealth Management LLC increased its stake in The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after buying an additional 36 shares during the period. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group during the 1st quarter worth $29,000. Cornerstone Planning Group LLC increased its stake in The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock worth $38,000 after buying an additional 23 shares during the period. Finally, Ridgewood Investments LLC increased its stake in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The shares were 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 of the company’s stock, valued at $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. Over the last 90 days, insiders sold 38,323 shares of company stock valued at $28,111,828. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $765.14 on Friday. The firm has a market cap of $231.62 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.44 and a beta of 1.42. 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, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25. The firm has a fifty day moving average of $760.79 and a two-hundred day moving average of $662.94.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the business earned $8.62 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, research analysts anticipate 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 firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a $4.00 dividend. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend was Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.26%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Evercore ISI lifted their price target on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Wells Fargo & Company lifted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Royal Bank Of Canada lifted their price target on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $727.31.

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.