Cape ANN Savings Bank Makes New $248,000 Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• Cape ANN Savings Bank has made a new investment in The Goldman Sachs Group, acquiring 350 shares valued at approximately $248,000.
• Multiple institutional investors have increased their holdings in The Goldman Sachs Group, with hedge funds collectively holding 71.21% of the company's stock.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00 per share, up from the previous dividend of $3.00, reflecting an annual yield of 2.0%.

Cape ANN Savings Bank acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 350 shares of the investment management company's stock, valued at approximately $248,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth about $25,000. Dogwood Wealth Management LLC grew its stake in The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after acquiring an additional 36 shares during the period. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $29,000. Godsey & Gibb Inc. grew its stake in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the period. Finally, Cornerstone Planning Group LLC grew its position in shares of The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock valued at $38,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GS. Royal Bank Of Canada lifted their price objective on The Goldman Sachs Group from $750.00 to $843.00 and gave the company a "sector perform" rating in a research report on Wednesday. Evercore ISI lifted their price target on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an "outperform" rating in a report on Tuesday. JMP Securities restated a "market perform" rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Keefe, Bruyette & Woods boosted their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Finally, BMO Capital Markets assumed coverage on shares of The Goldman Sachs Group in a report on Friday. They issued a "market perform" rating and a $785.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $713.88.

The Goldman Sachs Group Stock Up 1.4%

Shares of NYSE:GS opened at $790.32 on Friday. 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 1 year low of $439.38 and a 1 year high of $825.25. The stock has a 50-day simple moving average of $755.05 and a 200-day simple moving average of $655.05. The stock has a market capitalization of $239.25 billion, a P/E ratio of 17.42, a PEG ratio of 1.62 and a beta of 1.42.

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 (EPS) 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 company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the firm earned $8.62 earnings per share. The Goldman Sachs Group's revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared 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. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend was Friday, August 29th. 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 currently 35.26%.

Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was 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 in the company, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John E. Waldron sold 9,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer 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 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

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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