BNC Wealth Management LLC Boosts Position in The Goldman Sachs Group, Inc. $GS

Key Points

• BNC Wealth Management LLC increased its holdings in The Goldman Sachs Group by 17.3% during the 2nd quarter, raising its stake to 3,276 shares valued at approximately $2.319 million.
• Goldman Sachs recently reported earnings of $10.91 per share, exceeding analyst estimates of $9.82, and announced a quarterly dividend increase from $3.00 to $4.00 per share.
• Several analysts have raised their price targets for Goldman Sachs, with Citigroup adjusting its target from $550 to $700 and Morgan Stanley increasing their target from $680 to $715.

BNC Wealth Management LLC boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 17.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,276 shares of the investment management company's stock after buying an additional 483 shares during the period. BNC Wealth Management LLC's holdings in The Goldman Sachs Group were worth $2,319,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its holdings in The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock valued at $286,418,000 after buying an additional 116,535 shares during the period. Clear Creek Financial Management LLC purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $321,000. Blueshift Asset Management LLC raised its holdings in The Goldman Sachs Group by 161.8% in the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after buying an additional 652 shares during the period. Adams Diversified Equity Fund Inc. raised its holdings in The Goldman Sachs Group by 41.5% in the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after buying an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $1,643,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the topic of several research reports. Citigroup raised their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. HSBC reaffirmed a "reduce" rating and issued a $627.00 price objective (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of 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. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $665.00.

The Goldman Sachs Group Stock Up 0.1%

GS stock opened at $806.62 on Wednesday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $244.18 billion, a P/E ratio of 17.77, a PEG ratio of 1.68 and a beta of 1.41. The firm has a 50 day simple moving average of $741.95 and a 200-day simple moving average of $641.68.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the company earned $8.62 earnings per share. The business's quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts predict 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 business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is 35.26%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the transaction, the chief operating officer directly owned 106,268 shares of the company's stock, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is owned by corporate insiders.

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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