357 Shares in The Goldman Sachs Group, Inc. $GS Purchased by EdgeRock Capital LLC

Key Points

• EdgeRock Capital LLC acquired a new stake in The Goldman Sachs Group, purchasing 357 shares valued at approximately $253,000.
• Goldman Sachs reported earnings of $10.91 per share for the last quarter, exceeding expectations, and announced an increase in its quarterly dividend from $3.00 to $4.00 per share.
• Hedge funds and institutional investors currently own 71.21% of Goldman Sachs stock, highlighting significant interest from large investors in the company.

EdgeRock Capital LLC bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 357 shares of the investment management company's stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GS. Kingstone Capital Partners Texas LLC boosted its holdings in The Goldman Sachs Group by 617,504.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock valued at $20,566,005,000 after acquiring an additional 29,053,586 shares during the period. GAMMA Investing LLC boosted its holdings in The Goldman Sachs Group by 63,864.7% during the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock valued at $2,172,423,000 after acquiring an additional 3,970,467 shares during the period. International Assets Investment Management LLC purchased a new position in The Goldman Sachs Group during the 1st quarter valued at about $1,766,238,000. Nuveen LLC purchased a new position in The Goldman Sachs Group during the 1st quarter valued at about $897,185,000. Finally, Assenagon Asset Management S.A. boosted its holdings in The Goldman Sachs Group by 102.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock valued at $8,065,000 after acquiring an additional 585,084 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GS. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Keefe, Bruyette & Woods lifted 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 note on Thursday, July 17th. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Morgan Stanley lifted their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating, eleven 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 a consensus target price of $665.00.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The transaction 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 Goldman Sachs Group 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 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 have sold 38,323 shares of company stock worth $28,111,828 in the last three months. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

GS stock opened at $794.75 on Friday. The business has a 50 day moving average price of $745.43 and a 200 day moving average price of $644.54. The stock has a market cap of $240.59 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.65 and a beta of 1.41. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its 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 firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.62 earnings per share. Equities 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 announced 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. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.0%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

The Goldman Sachs Group Company 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.

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