Riversedge Advisors LLC Buys Shares of 365 The Goldman Sachs Group, Inc. $GS

Key Points

• Riversedge Advisors LLC has acquired a new stake in The Goldman Sachs Group, purchasing 365 shares valued at approximately $258,000 in the second quarter.
• Several hedge funds have increased their positions in Goldman Sachs, with Brighton Jones LLC growing its stake by 17.1%, now owning 3,474 shares worth $1,989,000.
• The Goldman Sachs Group announced a quarterly dividend increase to $4.00 per share, up from the previous $3.00, with a 2.0% yield and a payout ratio of 35.26%.

Riversedge Advisors LLC acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 365 shares of the investment management company's stock, valued at approximately $258,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Beacon Financial Group lifted its stake in The Goldman Sachs Group by 16.4% in the second quarter. Beacon Financial Group now owns 562 shares of the investment management company's stock worth $398,000 after acquiring an additional 79 shares during the period. Czech National Bank lifted its stake in The Goldman Sachs Group by 4.6% in the second quarter. Czech National Bank now owns 75,002 shares of the investment management company's stock worth $53,083,000 after acquiring an additional 3,332 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of The Goldman Sachs Group by 98.9% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 65,345 shares of the investment management company's stock valued at $46,248,000 after buying an additional 32,489 shares during the last quarter. Sandy Cove Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 4.4% in the 2nd quarter. Sandy Cove Advisors LLC now owns 893 shares of the investment management company's stock valued at $632,000 after buying an additional 38 shares in the last quarter. Finally, Parisi Gray Wealth Management boosted its holdings in shares of The Goldman Sachs Group by 2.5% in the 2nd quarter. Parisi Gray Wealth Management now owns 5,983 shares of the investment management company's stock valued at $4,235,000 after buying an additional 145 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on GS. JMP Securities restated a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Citigroup increased their price objective on shares of 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. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $665.00.

Insider Buying and Selling

In related news, COO John E. Waldron sold 9,244 shares of the business's 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 sale, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. 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 quarter. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Trading Up 0.0%

Shares of NYSE GS traded up $0.14 during trading on Friday, hitting $804.45. 3,788,014 shares of the company were exchanged, compared to its average volume of 1,604,564. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $809.66. 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 company has a fifty day moving average price of $738.03 and a 200-day moving average price of $638.00. The firm has a market capitalization of $243.52 billion, a PE ratio of 17.73, a P/E/G ratio of 1.68 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS 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 business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm earned $8.62 EPS. The company's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is presently 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.