BridgePort Financial Solutions LLC Invests $249,000 in The Goldman Sachs Group, Inc. $GS

Key Points

• BridgePort Financial Solutions LLC has invested approximately $249,000 in The Goldman Sachs Group by acquiring 352 shares during the second quarter.
• The Goldman Sachs Group reported a 14.5% year-over-year increase in revenue for the last quarter, reaching $14.58 billion and exceeding analyst expectations.
• The company recently increased its quarterly dividend from $3.00 to $4.00 per share, representing a 2.0% yield and an annualized rate of $16.00.

BridgePort Financial Solutions LLC bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 352 shares of the investment management company's stock, valued at approximately $249,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $25,000. Dogwood Wealth Management LLC boosted its stake in The Goldman Sachs Group by 1,800.0% during the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after buying an additional 36 shares during the period. American Capital Advisory LLC bought a new position in The Goldman Sachs Group during the first quarter valued at $29,000. Godsey & Gibb Inc. raised its stake in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after acquiring an additional 34 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of The Goldman Sachs Group by 46.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after acquiring an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $790.32 on Friday. The company has a market cap of $239.25 billion, a PE ratio of 17.42, a P/E/G ratio of 1.64 and a beta of 1.42. The firm's 50 day moving average price is $755.05 and its 200-day moving average price is $655.73. 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 Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The Goldman Sachs Group's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.62 earnings per share. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a dividend of $4.00 per share. The ex-dividend date of this dividend was 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 yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is 35.26%.

Insider Buying and Selling

In other The Goldman Sachs Group news, 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 value of $4,310,079.12. Following the completion of the transaction, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. The trade was a 4.98% 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 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a "hold" rating in a research note on Tuesday, September 30th. BMO Capital Markets started coverage on The Goldman Sachs Group in a research note on Friday. They set a "market perform" rating and a $785.00 target price on the stock. Royal Bank Of Canada raised their price target on The Goldman Sachs Group from $750.00 to $843.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of The Goldman Sachs Group in a research report on Saturday, September 27th. Finally, Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Five investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $717.00.

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.

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