Prudent Investors Network Inc. Buys New Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Prudent Investors Network Inc. acquired 455 shares of The Goldman Sachs Group, Inc., valued at approximately $249,000, as disclosed in a recent SEC filing.
• The Goldman Sachs Group reported a quarterly EPS of $10.91, exceeding the consensus estimate and marking a 14.5% increase in revenue compared to the previous year.
• The company increased its quarterly dividend to $4.00 per share, up from $3.00, demonstrating a commitment to returning value to shareholders.

Prudent Investors Network Inc. acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 455 shares of the investment management company's stock, valued at approximately $249,000.

A number of other hedge funds have also made changes to their positions in GS. GAMMA Investing LLC boosted its stake in The Goldman Sachs Group by 63,864.7% in the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after purchasing an additional 3,970,467 shares during the period. International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group in the 1st quarter worth approximately $1,766,238,000. Norges Bank acquired a new position in The Goldman Sachs Group in the 4th quarter worth approximately $1,603,315,000. Castlekeep Investment Advisors LLC acquired a new position in The Goldman Sachs Group in the 4th quarter worth approximately $944,334,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in The Goldman Sachs Group by 214.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company's stock worth $741,018,000 after purchasing an additional 882,099 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GS. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Daiwa Capital Markets lowered shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 target price for the company. in a research note on Friday, April 4th. Keefe, Bruyette & Woods lifted their target price on shares of 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. Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Finally, JMP Securities reissued a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $660.00.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,079 shares of company stock worth $14,423,221. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Performance

GS traded up $4.40 during trading on Tuesday, hitting $728.05. The stock had a trading volume of 696,649 shares, compared to its average volume of 2,620,733. The firm has a market cap of $223.39 billion, a PE ratio of 16.03, a P/E/G ratio of 1.55 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $732.52. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26. The company has a 50 day simple moving average of $659.83 and a 200-day simple moving average of $607.08.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its 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 net margin of 12.37% and a return on equity of 13.84%. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm posted $8.62 EPS. The business's quarterly revenue was up 14.5% on a year-over-year basis. 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 disclosed 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. 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. This represents a $16.00 annualized dividend and a dividend yield of 2.20%. The Goldman Sachs Group's payout ratio is presently 35.26%.

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.