Fiduciary Financial Group LLC Acquires 620 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Fiduciary Financial Group LLC increased its stake in The Goldman Sachs Group by 56.4%, acquiring an additional 620 shares during the second quarter, bringing its total holdings to 1,720 shares worth approximately $1,215,000.
• The Goldman Sachs Group announced a quarterly dividend of $4.00 per share, representing a yield of 2.0%, which is an increase from their previous dividend of $3.00.
• Recent analyst ratings reflect optimism, with Wells Fargo raising its target price for Goldman Sachs shares from $650 to $785, and the overall consensus rating being a "Hold" with an average target price of $660.

Fiduciary Financial Group LLC boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 56.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,720 shares of the investment management company's stock after purchasing an additional 620 shares during the quarter. Fiduciary Financial Group LLC's holdings in The Goldman Sachs Group were worth $1,215,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group in the first quarter worth about $25,000. Mascagni Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $31,000. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group during the 1st quarter valued at about $29,000. 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 worth $30,000 after buying an additional 34 shares during the last quarter. Finally, Lowe Wealth Advisors LLC raised its stake in The Goldman Sachs Group by 326.7% during the 1st 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 period. Institutional investors own 71.21% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on GS shares. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Evercore ISI set a $715.00 price target on The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. HSBC reiterated a "reduce" rating and issued 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. Finally, Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $660.00.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction on 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 sale, the executive vice president owned 65,761 shares of the company's stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 in the last 90 days. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $780.87 on Friday. 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, Inc. has a 12 month low of $439.38 and a 12 month high of $793.17. The firm has a market capitalization of $236.39 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41. The business's fifty day moving average price is $728.85 and its 200 day moving average price is $631.49.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm posted $8.62 earnings per share. The Goldman Sachs Group's revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is 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.

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