Foundations Investment Advisors LLC Boosts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Foundations Investment Advisors LLC significantly increased its holdings in The Goldman Sachs Group by 476.3%, acquiring an additional 39,608 shares, bringing its total to 47,923 shares valued at approximately $26.18 million.
• The Goldman Sachs Group's recent earnings report surpassed analysts' expectations, posting $10.91 EPS compared to the projected $9.82, alongside a 14.5% revenue growth year-over-year.
• The company announced a quarterly dividend increase from $3.00 to $4.00, with the dividend yield now standing at 2.20%, reflecting strong financial performance.

Foundations Investment Advisors LLC boosted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 476.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 47,923 shares of the investment management company's stock after buying an additional 39,608 shares during the period. Foundations Investment Advisors LLC's holdings in The Goldman Sachs Group were worth $26,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wynn Capital LLC boosted its position in The Goldman Sachs Group by 0.3% during the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock valued at $3,211,000 after purchasing an additional 20 shares in the last quarter. 1900 Wealth Management LLC boosted its position in The Goldman Sachs Group by 2.6% during the first quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock valued at $425,000 after purchasing an additional 20 shares in the last quarter. World Equity Group Inc. boosted its position in The Goldman Sachs Group by 0.9% during the first quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock valued at $1,273,000 after purchasing an additional 20 shares in the last quarter. Register Financial Advisors LLC boosted its position in The Goldman Sachs Group by 2.5% during the first quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock valued at $440,000 after purchasing an additional 20 shares in the last quarter. Finally, Continuum Advisory LLC boosted its position in The Goldman Sachs Group by 6.7% during the first quarter. Continuum Advisory LLC now owns 318 shares of the investment management company's stock valued at $174,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GS. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Citigroup raised their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Finally, Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. One equities research 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. According to MarketBeat.com, the stock has an average 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 that occurred on Wednesday, July 23rd. The stock was 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 directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 transaction, the chief executive officer owned 126,176 shares of the company's stock, 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. Over the last ninety days, insiders sold 20,079 shares of company stock worth $14,423,221. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS traded down $4.14 during trading on Thursday, hitting $726.61. The stock had a trading volume of 1,257,022 shares, compared to its average volume of 2,615,635. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $737.88. The stock has a market capitalization of $222.95 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26. The stock has a 50-day simple moving average of $665.10 and a two-hundred day simple moving average of $608.80.

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 (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $8.62 earnings per share. On average, equities research analysts expect 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. Investors 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 yield of 2.20%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 26.44%.

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.