Bridgewater Associates LP Purchases Shares of 9,520 Goldman Sachs Group, Inc. (The) (GS)

Bridgewater Associates LP acquired a new stake in shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,520 shares of the investment management company’s stock, valued at approximately $2,187,000.

Several other large investors have also recently added to or reduced their stakes in GS. Alliancebernstein L.P. increased its stake in shares of Goldman Sachs Group, Inc. (The) by 84.4% in the first quarter. Alliancebernstein L.P. now owns 3,221,215 shares of the investment management company’s stock valued at $739,978,000 after buying an additional 1,474,433 shares during the period. FMR LLC increased its stake in shares of Goldman Sachs Group, Inc. (The) by 10.9% in the first quarter. FMR LLC now owns 10,995,425 shares of the investment management company’s stock valued at $2,525,869,000 after buying an additional 1,084,624 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Goldman Sachs Group, Inc. (The) by 130.3% in the first quarter. Canada Pension Plan Investment Board now owns 863,464 shares of the investment management company’s stock valued at $198,355,000 after buying an additional 488,597 shares during the period. Acadian Asset Management LLC increased its stake in shares of Goldman Sachs Group, Inc. (The) by 172.3% in the first quarter. Acadian Asset Management LLC now owns 604,117 shares of the investment management company’s stock valued at $138,779,000 after buying an additional 382,284 shares during the period. Finally, WestEnd Advisors LLC bought a new stake in shares of Goldman Sachs Group, Inc. (The) during the first quarter valued at about $52,299,000. Hedge funds and other institutional investors own 74.66% of the company’s stock.

Goldman Sachs Group, Inc. (GS) traded up 0.03% during trading on Wednesday, reaching $227.65. The company had a trading volume of 855,259 shares. The firm’s 50 day moving average is $225.55 and its 200 day moving average is $229.49. The company has a market capitalization of $88.38 billion, a PE ratio of 11.94 and a beta of 1.42. Goldman Sachs Group, Inc. has a one year low of $157.77 and a one year high of $255.15.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last released its earnings results on Tuesday, July 18th. The investment management company reported $3.95 EPS for the quarter, beating analysts’ consensus estimates of $3.39 by $0.56. The firm had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.47 billion. Goldman Sachs Group, Inc. (The) had a return on equity of 11.27% and a net margin of 26.44%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.72 earnings per share. On average, equities research analysts predict that Goldman Sachs Group, Inc. will post $18.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.32%. Goldman Sachs Group, Inc. (The)’s dividend payout ratio is 15.74%.

Goldman Sachs Group, Inc. (The) announced that its board has authorized a share repurchase program on Tuesday, April 18th that authorizes the company to buyback 50,000,000 shares. This buyback authorization authorizes the investment management company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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Several equities research analysts recently issued reports on the company. UBS AG reiterated a “buy” rating and set a $285.00 price target on shares of Goldman Sachs Group, Inc. (The) in a report on Wednesday, April 19th. Keefe, Bruyette & Woods set a $260.00 price objective on Goldman Sachs Group, Inc. (The) and gave the stock a “buy” rating in a research report on Saturday, May 6th. BidaskClub raised Goldman Sachs Group, Inc. (The) from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. HSBC Holdings plc cut Goldman Sachs Group, Inc. (The) from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $223.80 to $250.00 in a research report on Friday, August 11th. Finally, Wells Fargo & Company assumed coverage on Goldman Sachs Group, Inc. (The) in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $265.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Goldman Sachs Group, Inc. (The) currently has a consensus rating of “Hold” and a consensus price target of $235.44.

In related news, insider David M. Solomon sold 3,260 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $231.59, for a total value of $754,983.40. Following the transaction, the insider now owns 177,594 shares of the company’s stock, valued at $41,128,994.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John F.W. Rogers sold 17,685 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $235.02, for a total value of $4,156,328.70. Following the completion of the transaction, the executive vice president now directly owns 80,109 shares in the company, valued at approximately $18,827,217.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,535 shares of company stock worth $5,956,868. Insiders own 2.57% of the company’s stock.

About Goldman Sachs Group, Inc. (The)

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.