Carr Financial Group Corp Takes $312,000 Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Carr Financial Group Corp acquired a $312,000 position in The Goldman Sachs Group by purchasing 440 shares in the second quarter.
• The company recently announced a quarterly dividend increase to $4.00 per share, up from the previous dividend of $3.00, reflecting an annual yield of 2.0%.
• Goldman Sachs reported an EPS of $10.91 for its last quarter, exceeding expectations, with a significant revenue increase of 14.5% compared to the same quarter last year.

Carr Financial Group Corp purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 440 shares of the investment management company's stock, valued at approximately $312,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board grew its position in The Goldman Sachs Group by 28.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock worth $286,418,000 after purchasing an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $321,000. Blueshift Asset Management LLC increased its stake in The Goldman Sachs Group by 161.8% during the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after acquiring an additional 652 shares during the period. Adams Diversified Equity Fund Inc. lifted its position 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 worth $27,205,000 after acquiring an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC acquired a new position in shares of The Goldman Sachs Group in the first quarter valued at $1,643,000. Institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Wells Fargo & Company upped their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $665.00.

Insiders Place Their Bets

In other The Goldman Sachs Group news, 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 value of $6,934,016.84. Following the completion of the sale, the chief operating officer directly owned 115,268 shares in the company, valued at $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 in the last three months. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 0.1%

Shares of NYSE GS opened at $806.62 on Wednesday. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25. The company has a 50-day moving average of $741.95 and a two-hundred day moving average of $641.68. The company has a market cap of $244.18 billion, a PE ratio of 17.77, a P/E/G ratio of 1.68 and a beta of 1.41. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter last year, the business earned $8.62 earnings per share. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts expect 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. Investors of record on Friday, August 29th will be paid a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

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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