GAMMA Investing LLC Raises Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• GAMMA Investing LLC increased its stake in The Goldman Sachs Group by 9.8% in the second quarter, accumulating 7,992 shares valued at approximately $5.657 million.
• The Goldman Sachs Group plans to pay a quarterly dividend of $4.00 per share, an increase from the previous dividend of $3.00, resulting in an annualized yield of 2.0%.
• Insider selling has occurred recently, with CFO Denis P. Coleman and COO John E. Waldron selling a combined total of over $12 million in shares, reflecting a decrease in their ownership percentages.

GAMMA Investing LLC grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,992 shares of the investment management company's stock after buying an additional 713 shares during the quarter. GAMMA Investing LLC's holdings in The Goldman Sachs Group were worth $5,657,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of GS. Ridgewood Investments LLC increased its holdings in The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after acquiring an additional 17 shares during the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of The Goldman Sachs Group by 2.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 2,459 shares of the investment management company's stock valued at $1,740,000 after acquiring an additional 57 shares during the last quarter. Strategic Planning Group LLC boosted its holdings in The Goldman Sachs Group by 18.4% during the second quarter. Strategic Planning Group LLC now owns 9,129 shares of the investment management company's stock worth $6,461,000 after buying an additional 1,417 shares in the last quarter. Masso Torrence Wealth Management Inc. lifted its holdings in The Goldman Sachs Group by 2.2% during the second quarter. Masso Torrence Wealth Management Inc. now owns 2,214 shares of the investment management company's stock valued at $1,567,000 after purchasing an additional 48 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its position in The Goldman Sachs Group by 59.8% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 10,978 shares of the investment management company's stock worth $7,770,000 after purchasing an additional 4,107 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock traded up $0.20 during trading on Monday, hitting $805.20. The company's stock had a trading volume of 1,150,956 shares, compared to its average volume of 1,696,610. The business has a fifty day moving average of $739.87 and a 200-day moving average of $640.52. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $809.66. The company has a market cap of $243.75 billion, a PE ratio of 17.74, a P/E/G ratio of 1.68 and a beta of 1.41. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping 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 firm had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the company earned $8.62 earnings per share. The business's revenue for the quarter 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 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced 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 is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GS. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Morgan Stanley raised their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $665.00.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares in the company, valued at $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 is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's 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 directly owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

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.