Country Club Bank Buys Shares of 344 The Goldman Sachs Group, Inc. $GS

Key Points

• Country Club Bank purchased 344 shares of The Goldman Sachs Group, Inc. during the second quarter, valued at approximately $238,000.
• Insider selling activity included EVP John F.W. Rogers and CEO David M. Solomon, who sold 6,008 and 6,608 shares respectively, indicating a noticeable decrease in their holdings.
• The Goldman Sachs Group's recent quarterly earnings report showed $10.91 EPS, exceeding estimates, alongside an increase in their quarterly dividend from $3.00 to $4.00.

Country Club Bank bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 344 shares of the investment management company's stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new position in The Goldman Sachs Group in the first quarter valued at about $25,000. Dogwood Wealth Management LLC grew its holdings in shares of The Goldman Sachs Group by 1,800.0% during the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after purchasing an additional 36 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of The Goldman Sachs Group during the first quarter worth about $29,000. Cornerstone Planning Group LLC grew its holdings in shares of The Goldman Sachs Group by 46.9% during the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after purchasing an additional 23 shares during the last quarter. Finally, Ridgewood Investments LLC grew its holdings in shares of The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Insider Activity at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on GS. Weiss Ratings restated a "hold (c+)" rating on shares of The Goldman Sachs Group in a report on Wednesday. Morgan Stanley boosted their price target on The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an "equal weight" rating in a report on Monday, September 29th. Citigroup boosted their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Finally, BMO Capital Markets began coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They set a "market perform" rating and a $785.00 price target on the stock. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus target price of $727.31.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $777.49 on Thursday. The business's 50 day simple moving average is $758.55 and its 200 day simple moving average is $659.72. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The stock has a market capitalization of $235.36 billion, a PE ratio of 17.13, a PEG ratio of 1.49 and a beta of 1.42. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced 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 company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm posted $8.62 EPS. As a group, 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 business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.1%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group's payout ratio is presently 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.

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.