325 Shares in The Goldman Sachs Group, Inc. $GS Bought by Somerset Trust Co

Key Points

• Somerset Trust Co acquired 325 shares of The Goldman Sachs Group, Inc. for approximately $230,000 in the second quarter, as reported in their recent SEC filing.
• Insider sales included COO John E. Waldron offloading 9,244 shares valued at over $6.9 million, while total insider sales in the past ninety days reached $28.1 million.
• Goldman Sachs recently announced a quarterly dividend increase to $4.00, reflecting an annual yield of 2.0%, set to be paid on September 29th.

Somerset Trust Co purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 325 shares of the investment management company's stock, valued at approximately $230,000.

Other hedge funds have also bought and sold shares of the company. King Wealth Management Group lifted its position in shares of The Goldman Sachs Group by 1.8% in the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after buying an additional 19 shares in the last quarter. Raab & Moskowitz Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 0.9% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company's stock worth $1,104,000 after buying an additional 19 shares in the last quarter. Wynn Capital LLC lifted its position in shares of The Goldman Sachs Group by 0.3% in the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after buying an additional 20 shares in the last quarter. 1900 Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 2.6% in the first quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after buying an additional 20 shares in the last quarter. Finally, Register Financial Advisors LLC lifted its position in shares of The Goldman Sachs Group by 2.5% in the first quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock worth $440,000 after buying an additional 20 shares in the last quarter. Institutional investors own 71.21% of the company's stock.

Insider Transactions at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,244 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares of the company's stock, valued at $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the transaction, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 in the last ninety days. 0.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Citigroup upped their price objective on 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, Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Trading Down 0.5%

Shares of NYSE GS opened at $780.87 on Monday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The business's 50 day moving average price is $728.85 and its 200-day moving average price is $631.75. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $793.17. The company has a market cap of $236.38 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.64 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results 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 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 the consensus estimate of $13.53 billion. During the same period in the prior year, the business posted $8.62 earnings per share. The company's revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 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 Monday, September 29th. Investors of record on Friday, August 29th will be paid a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.0%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is currently 35.26%.

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.

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