Castle Rock Wealth Management LLC Purchases Shares of 2,880 The Goldman Sachs Group, Inc. $GS

Key Points

• Castle Rock Wealth Management LLC acquired 2,880 shares of The Goldman Sachs Group, valued at approximately $2,045,000, in the second quarter, highlighting growing interest from institutional investors.
• The Goldman Sachs Group recently increased its quarterly dividend from $3.00 to $4.00, indicating a 2.0% dividend yield and a payout ratio of 35.26%.
• The firm reported a quarterly earnings per share (EPS) of $10.91, surpassing analyst expectations and showing a 14.5% increase in revenue year-over-year.

Castle Rock Wealth Management LLC purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 2,880 shares of the investment management company's stock, valued at approximately $2,045,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its stake in shares of The Goldman Sachs Group by 617,504.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock worth $20,566,005,000 after acquiring an additional 29,053,586 shares in the last quarter. Northern Trust Corp boosted its stake in shares of The Goldman Sachs Group by 1.2% during the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock worth $1,820,677,000 after acquiring an additional 40,125 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of The Goldman Sachs Group by 6.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock worth $1,138,527,000 after acquiring an additional 120,272 shares in the last quarter. Finally, Amundi boosted its stake in shares of The Goldman Sachs Group by 13.6% during the 1st quarter. Amundi now owns 1,891,260 shares of the investment management company's stock worth $967,193,000 after acquiring an additional 225,993 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Trading Down 1.0%

The Goldman Sachs Group stock opened at $788.56 on Wednesday. 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 business's 50-day simple moving average is $757.63 and its 200-day simple moving average is $658.90. The firm has a market capitalization of $238.71 billion, a PE ratio of 17.38, a PEG ratio of 1.64 and a beta of 1.42. 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 posted 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 business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm's revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $8.62 earnings per share. Equities research 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 disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a $4.00 dividend. The ex-dividend date was Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is presently 35.26%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the company's stock in a transaction that occurred on 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 transaction, the chief operating officer 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on GS shares. UBS Group raised their target price on The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a "neutral" rating in a research report on Tuesday. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft raised their target price on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a "hold" rating in a research report on Tuesday, September 30th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Zacks Research cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $727.31.

About The Goldman Sachs Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.