Calamos Wealth Management LLC Buys 2,427 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Calamos Wealth Management LLC increased its holdings in The Goldman Sachs Group by 45.5%, acquiring an additional 2,427 shares during the second quarter, bringing their total to 7,758 shares valued at approximately $5.49 million.
• Several analysts have recently set new price targets for The Goldman Sachs Group, with an average target of $770.73 and ratings primarily classified as Hold, while one analyst upgraded the stock from Sell to Hold.
• Goldman Sachs announced a $4.00 quarterly dividend to be paid on December 30, representing an annual yield of 2.1%, with a payout ratio of 32.5%.

Calamos Wealth Management LLC lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 45.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,758 shares of the investment management company's stock after acquiring an additional 2,427 shares during the period. Calamos Wealth Management LLC's holdings in The Goldman Sachs Group were worth $5,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cidel Asset Management Inc. grew its stake in shares of The Goldman Sachs Group by 1.0% in the second quarter. Cidel Asset Management Inc. now owns 2,171 shares of the investment management company's stock worth $1,537,000 after acquiring an additional 21 shares during the last quarter. Forvis Mazars Wealth Advisors LLC grew its stake in shares of The Goldman Sachs Group by 14.2% in the second quarter. Forvis Mazars Wealth Advisors LLC now owns 3,053 shares of the investment management company's stock worth $2,161,000 after acquiring an additional 379 shares during the last quarter. Crux Wealth Advisors acquired a new stake in shares of The Goldman Sachs Group in the second quarter worth $214,000. Chicago Partners Investment Group LLC grew its stake in shares of The Goldman Sachs Group by 16.9% in the second quarter. Chicago Partners Investment Group LLC now owns 3,264 shares of the investment management company's stock worth $2,342,000 after acquiring an additional 473 shares during the last quarter. Finally, Sigma Investment Counselors Inc. grew its stake in shares of The Goldman Sachs Group by 5.5% in the second quarter. Sigma Investment Counselors Inc. now owns 12,608 shares of the investment management company's stock worth $8,923,000 after acquiring an additional 654 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a "market perform" rating and a $785.00 price objective on the stock. Citizens Jmp restated 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 The Goldman Sachs Group from $850.00 to $870.00 and gave the company a "market perform" rating in a research note on Friday. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $770.73.

Insiders Place Their Bets

In related news, COO John E. Waldron sold 9,000 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the transaction, the chief operating officer owned 106,268 shares in the company, valued at $79,755,196.68. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $750.71 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The firm has a market cap of $227.25 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The business has a fifty day moving average of $765.25 and a 200-day moving average of $670.40.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating analysts' consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The company had revenue of $11.33 billion during the quarter, compared to analyst estimates of $13.68 billion. During the same period last year, the company posted $8.40 earnings per share. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The Goldman Sachs Group's dividend payout ratio (DPR) is 32.50%.

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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