Gemmer Asset Management LLC Acquires Shares of 324 The Goldman Sachs Group, Inc. $GS

Key Points

• Gemmer Asset Management LLC acquired 324 shares of The Goldman Sachs Group, Inc., valued at around $229,000, during the 2nd quarter.
• The company recently announced an increase in its quarterly dividend from $3.00 to $4.00, translating to an annualized dividend yield of 2.0%.
• Wall Street analysts have a consensus target price of $717.00 for the stock, with five analysts rating it as a Buy and fourteen others issuing Hold ratings.

Gemmer Asset Management LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 324 shares of the investment management company's stock, valued at approximately $229,000.

Several other institutional investors also recently bought and sold shares of the company. Dogwood Wealth Management LLC grew its stake in shares of The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after purchasing an additional 36 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth $25,000. American Capital Advisory LLC acquired 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 purchasing an additional 34 shares during the period. Finally, Ridgewood Investments LLC grew its stake in shares of The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Royal Bank Of Canada increased their price objective on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a "sector perform" rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. HSBC increased their price objective on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $717.00.

Insider Activity

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. 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 90 days. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $790.32 on Friday. The firm has a market cap of $239.25 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42. 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's 50-day moving average is $755.05 and its two-hundred day moving average is $655.73. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $8.62 EPS. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $4.00 dividend. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group's payout ratio is currently 35.26%.

The Goldman Sachs Group 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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