Coastline Trust Co Purchases 424 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Coastline Trust Co lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 30.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,803 shares of the investment management company's stock after acquiring an additional 424 shares during the quarter. Coastline Trust Co's holdings in The Goldman Sachs Group were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $30,000. Mascagni Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at about $31,000. Transce3nd LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. Godsey & Gibb Inc. boosted its holdings 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, Lowe Wealth Advisors LLC grew its position in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Up 1.0%

Shares of GS traded up $7.16 during mid-day trading on Thursday, hitting $723.05. 1,063,722 shares of the company's stock were exchanged, compared to its average volume of 2,388,883. The stock has a market cap of $221.86 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 0.96 and a beta of 1.35. The firm has a fifty day moving average of $609.88 and a two-hundred day moving average of $589.61. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41. The Goldman Sachs Group, Inc. has a twelve month low of $437.37 and a twelve month high of $725.87.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $1.55. The company had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. During the same quarter in the prior year, the company posted $11.58 EPS. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is presently 27.85%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays cut their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company cut their price objective on shares of The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Evercore ISI raised their target price on shares of The Goldman Sachs Group from $630.00 to $715.00 and gave the stock an "outperform" rating in a research note on Wednesday. Daiwa Capital Markets lowered shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target on the stock. in a research note on Friday, April 4th. Finally, Wall Street Zen cut shares of The Goldman Sachs Group from a "hold" rating to a "sell" rating in a report on Saturday, June 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $603.73.

Insider Activity

In related news, Director John B. Hess acquired 3,904 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was acquired at an average price of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the acquisition, the director owned 3,904 shares of the company's stock, valued at $1,997,598.72. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.55% of the stock is owned by company insiders.

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.