Fortis Capital Advisors LLC Acquires Shares of 806 The Goldman Sachs Group, Inc. $GS

Key Points

• Fortis Capital Advisors LLC has acquired 806 shares of The Goldman Sachs Group, valued at approximately $440,000, during the first quarter.
• The Goldman Sachs Group reported earnings of $10.91 per share for the latest quarter, exceeding analysts' expectations and representing a 14.5% increase in revenue year-over-year.
• The company declared a quarterly dividend of $4.00, reflecting an increase from the previous dividend, with a yield of 2.1% and a payout ratio of 35.26%.

Fortis Capital Advisors LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 806 shares of the investment management company's stock, valued at approximately $440,000.

Other institutional investors have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group during the 1st quarter worth $25,000. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group during the 1st quarter worth $29,000. Godsey & Gibb Inc. grew its stake in shares of The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the period. Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth $31,000. Finally, Lowe Wealth Advisors LLC grew its stake in shares of 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.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $769.95 on Thursday. The business's 50-day moving average price is $726.53 and its two-hundred day moving average price is $629.25. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $774.47. The stock has a market cap of $233.08 billion, a P/E ratio of 16.97, a PEG ratio of 1.60 and a beta of 1.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released 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 quarter last year, the firm posted $8.62 EPS. The company's revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts predict 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend 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 payout ratio is 35.26%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value 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. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John E. Waldron sold 9,000 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. 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 research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $660.00.

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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