Coordinated Financial Services Inc. CO Makes New Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• Coordinated Financial Services Inc. acquired a new stake in The Goldman Sachs Group, purchasing 701 shares valued at approximately $383,000.
• Goldman Sachs reported earnings of $10.91 per share for the last quarter, exceeding analyst expectations and reflecting a 14.5% year-over-year revenue increase.
• The company recently announced a quarterly dividend increase to $4.00 per share, up from the previous $3.00, indicating a commitment to returning value to shareholders.

Coordinated Financial Services Inc. CO bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 701 shares of the investment management company's stock, valued at approximately $383,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after acquiring an additional 508 shares during the period. Revolve Wealth Partners LLC lifted its position in The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after acquiring an additional 58 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in The Goldman Sachs Group during the 4th quarter worth about $583,000. Highview Capital Management LLC DE lifted its position in The Goldman Sachs Group by 4.7% during the 4th quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock worth $2,186,000 after acquiring an additional 171 shares during the period. Finally, First Manhattan CO. LLC. lifted its position in The Goldman Sachs Group by 66.2% during the 4th quarter. First Manhattan CO. LLC. now owns 3,677 shares of the investment management company's stock worth $2,106,000 after acquiring an additional 1,464 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on GS. HSBC reaffirmed a "reduce" rating and set a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. JMP Securities reaffirmed a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Morgan Stanley lifted their price target on 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. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $660.00.

Insiders Place Their Bets

In related news, COO John E. Waldron sold 9,244 shares of the 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 directly owned 115,268 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was 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 of the company's stock, 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 ninety days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Price Performance

NYSE:GS traded up $21.82 during trading hours on Tuesday, hitting $763.67. 2,609,385 shares of the stock were exchanged, compared to its average volume of 1,569,345. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $765.62. The firm's fifty day moving average price is $725.43 and its 200 day moving average price is $628.27. 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 company has a market cap of $231.18 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.58 and a beta of 1.41.

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 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 company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the business earned $8.62 EPS. The Goldman Sachs Group's quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS 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 given a $4.00 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.1%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 35.26%.

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.