623 Shares in The Goldman Sachs Group, Inc. (NYSE:GS) Acquired by Encompass More Asset Management

Key Points

• Encompass More Asset Management has acquired a new stake in The Goldman Sachs Group, investing approximately $340,000 to purchase 623 shares in the first quarter.
• The company recently announced an increased quarterly dividend to $4.00 per share, up from $3.00, representing an annualized dividend of $16.00.
• Goldman Sachs reported a 14.5% increase in revenue year-over-year, with quarterly earnings of $10.91 EPS, surpassing analysts' expectations of $9.82.

Encompass More Asset Management bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 623 shares of the investment management company's stock, valued at approximately $340,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Horizon Family Wealth Inc. increased its stake in The Goldman Sachs Group by 9.5% during the first quarter. Horizon Family Wealth Inc. now owns 1,017 shares of the investment management company's stock worth $556,000 after acquiring an additional 88 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in The Goldman Sachs Group by 5.6% during the 1st quarter. Thoroughbred Financial Services LLC now owns 7,600 shares of the investment management company's stock worth $4,151,000 after purchasing an additional 401 shares in the last quarter. W.H. Cornerstone Investments Inc. raised its holdings in The Goldman Sachs Group by 39.0% in the first quarter. W.H. Cornerstone Investments Inc. now owns 2,129 shares of the investment management company's stock valued at $1,163,000 after buying an additional 597 shares during the period. Accent Capital Management LLC lifted its position in The Goldman Sachs Group by 6.5% during the first quarter. Accent Capital Management LLC now owns 586 shares of the investment management company's stock valued at $320,000 after buying an additional 36 shares in the last quarter. Finally, IPG Investment Advisors LLC grew its stake in The Goldman Sachs Group by 75.9% during the first quarter. IPG Investment Advisors LLC now owns 4,750 shares of the investment management company's stock worth $2,595,000 after buying an additional 2,050 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the business'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 directly owned 126,176 shares of the company's stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,079 shares of company stock worth $14,423,221 in the last three months. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GS has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Hsbc Global Res downgraded The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $660.00.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded up $2.02 during trading on Friday, reaching $721.76. The stock had a trading volume of 1,275,362 shares, compared to its average volume of 2,022,910. The firm's 50 day moving average price is $679.08 and its two-hundred day moving average price is $613.75. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $737.88. The stock has a market cap of $218.49 billion, a PE ratio of 15.90, a P/E/G ratio of 1.53 and a beta of 1.38. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.68 and a current ratio of 0.67.

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, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the firm posted $8.62 EPS. The company's revenue for the quarter was up 14.5% on a year-over-year basis. On average, research analysts forecast 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 business 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 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 26.44%.

The Goldman Sachs Group 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.