Boyd Wealth Management LLC Makes New Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• Boyd Wealth Management LLC has acquired 435 shares of The Goldman Sachs Group, Inc., valued at approximately $308,000, in the 2nd quarter of the year.
• Recent institutional buying includes a 617,504.5% increase in stake by Kingstone Capital Partners Texas LLC, elevating its ownership to 29,058,291 shares worth over $20 billion.
• The Goldman Sachs Group announced a quarterly dividend increase to $4.00 per share, up from the previous $3.00, representing a yield of 2.0% and a significant return to shareholders.

Boyd Wealth Management LLC acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 435 shares of the investment management company's stock, valued at approximately $308,000.

Several other institutional investors have also recently bought and sold shares of GS. Kingstone Capital Partners Texas LLC grew its stake in shares of The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock worth $20,566,005,000 after acquiring an additional 29,053,586 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 3,970,467 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth $1,766,238,000. Nuveen LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth $897,185,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of The Goldman Sachs Group by 102.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock worth $8,065,000 after acquiring an additional 585,084 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the 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 completion of the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 over the last ninety days. Company insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GS. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Zacks Research lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Finally, HSBC restated a "reduce" rating and set a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $665.00.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $805.20 on Tuesday. 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 firm has a market capitalization of $243.75 billion, a PE ratio of 17.74, a P/E/G ratio of 1.68 and a beta of 1.41. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $809.66. The company has a 50-day moving average price of $739.87 and a two-hundred day moving average price of $640.52.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its 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 firm had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $8.62 earnings per share. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is 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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