The Goldman Sachs Group, Inc. $GS Shares Bought by Forvis Mazars Wealth Advisors LLC

Key Points

• Forvis Mazars Wealth Advisors LLC has increased its holdings in The Goldman Sachs Group by 19.7%, acquiring 441 additional shares, bringing its total to 2,674 shares valued at approximately $1.46 million.
• The Goldman Sachs Group has declared a quarterly dividend increase to $4.00 per share, up from the previous $3.00, with an annualized dividend yield of 2.2%.
• Recently, The Goldman Sachs Group reported earnings of $10.91 EPS, exceeding analyst expectations and showing a 14.5% increase in quarterly revenue year-over-year.

Forvis Mazars Wealth Advisors LLC lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 19.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,674 shares of the investment management company's stock after buying an additional 441 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in The Goldman Sachs Group were worth $1,461,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GS. Brighton Jones LLC lifted its holdings in shares of The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after buying an additional 508 shares in the last quarter. Revolve Wealth Partners LLC increased its position in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after purchasing an additional 58 shares during the last quarter. Bank Pictet & Cie Europe AG bought a new stake in The Goldman Sachs Group in the fourth quarter worth $583,000. Highview Capital Management LLC DE increased its position in The Goldman Sachs Group by 4.7% in the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock worth $2,186,000 after purchasing an additional 171 shares during the last quarter. Finally, Zacks Investment Management increased its position in The Goldman Sachs Group by 10.0% in the fourth quarter. Zacks Investment Management now owns 1,921 shares of the investment management company's stock worth $1,100,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analysts Set New Price Targets

GS has been the topic of several research reports. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. One investment 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 issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $660.00.

The Goldman Sachs Group Price Performance

GS stock traded down $5.3130 during midday trading on Thursday, reaching $715.3670. The stock had a trading volume of 1,140,445 shares, compared to its average volume of 2,535,622. The company's fifty day simple moving average is $701.18 and its 200 day simple moving average is $619.56. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a market cap of $216.56 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.53 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $749.05.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm posted $8.62 EPS. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is presently 26.44%.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction on 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 transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $4,706,944.48. Following the transaction, 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 position. 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 in the last quarter. 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.