Brendel Financial Advisors LLC Takes $312,000 Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Brendel Financial Advisors LLC acquired a new stake in The Goldman Sachs Group, purchasing 441 shares valued at approximately $312,000 during the 2nd quarter.
• Insider selling was notable, with EVP John F.W. Rogers and CEO David M. Solomon each selling over 6,000 shares, resulting in a roughly 4.98% to 8.37% decrease in their ownership.
• Goldman Sachs reported a 14.5% increase in quarterly revenue year-over-year, with earnings of $10.91 per share, surpassing analyst expectations of $9.82.

Brendel Financial Advisors LLC bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 441 shares of the investment management company's stock, valued at approximately $312,000.

Several other hedge funds have also made changes to their positions in the business. Canada Pension Plan Investment Board lifted its position 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 purchasing an additional 116,535 shares during the period. Clear Creek Financial Management LLC purchased a new position in shares of The Goldman Sachs Group during the 1st quarter worth approximately $321,000. Blueshift Asset Management LLC grew its stake in The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock worth $576,000 after acquiring an additional 652 shares during the period. Adams Diversified Equity Fund Inc. boosted its holdings in shares of The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after purchasing an additional 14,600 shares during the last quarter. Finally, Terra Nova Asset Management LLC acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at $1,643,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Activity

In other news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John E. Waldron sold 9,244 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer directly 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 a total of 38,323 shares of company stock valued at $28,111,828 in the last ninety days. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 0.9%

Shares of NYSE GS traded up $7.44 during mid-day trading on Tuesday, hitting $813.00. The company's stock had a trading volume of 628,719 shares, compared to its average volume of 2,435,852. The stock has a market cap of $246.11 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The company's fifty day simple moving average is $739.87 and its 200-day simple moving average is $640.52.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data 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 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 for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm earned $8.62 EPS. The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio is 35.26%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. 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. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Citigroup upped 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 note on Monday, July 21st. Finally, Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $665.00.

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.