FORA Capital LLC Purchases New Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• FORA Capital LLC has acquired a new stake in The Goldman Sachs Group, purchasing 6,819 shares valued at approximately $3.7 million.
• The Goldman Sachs Group reported a quarterly earnings per share of $10.91, exceeding analyst expectations, along with a revenue of $14.58 billion.
• The company has increased its quarterly dividend from $3.00 to $4.00 per share, marking a significant boost in returns for shareholders.

FORA Capital LLC purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,819 shares of the investment management company's stock, valued at approximately $3,725,000.

Several other hedge funds have also bought and sold shares of GS. Brighton Jones LLC grew its position in The Goldman Sachs Group by 17.1% in the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after purchasing an additional 508 shares during the period. Revolve Wealth Partners LLC grew its position in The Goldman Sachs Group by 7.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after purchasing an additional 58 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $583,000. Highview Capital Management LLC DE grew its position in The Goldman Sachs Group by 4.7% in the 4th quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock valued at $2,186,000 after purchasing an additional 171 shares during the period. Finally, Prosperity Consulting Group LLC grew its position in The Goldman Sachs Group by 6.1% in the 4th quarter. Prosperity Consulting Group LLC now owns 1,023 shares of the investment management company's stock valued at $586,000 after purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 0.4%

Shares of The Goldman Sachs Group stock opened at $738.6040 on Tuesday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $749.05. The stock's 50-day simple moving average is $707.78 and its 200 day simple moving average is $621.03. The stock has a market capitalization of $223.59 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.58 and a beta of 1.38. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating 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 firm had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the prior year, the business posted $8.62 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 35.26%.

Analysts Set New Price Targets

A number of research firms have issued reports on GS. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Wells Fargo & Company lifted their price objective on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $660.00.

Insider Activity

In other news, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 value of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock worth $14,423,221 over the last ninety days. Company insiders own 0.55% of the company's stock.

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.

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