Generate Investment Management Ltd Acquires 16,152 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Generate Investment Management Ltd significantly increased its stake in The Goldman Sachs Group, acquiring an additional 16,152 shares, raising its total holdings by 365.4% in the second quarter, valued at $14.56 million.
• Several other hedge funds also boosted their positions in Goldman Sachs, with a total of 71.21% of the stock currently owned by institutional investors and hedge funds.
• The company has increased its quarterly dividend from $3.00 to $4.00, representing a 2.0% dividend yield, with the payout set for September 29.

Generate Investment Management Ltd raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 365.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,572 shares of the investment management company's stock after acquiring an additional 16,152 shares during the quarter. Generate Investment Management Ltd's holdings in The Goldman Sachs Group were worth $14,560,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC increased its position in The Goldman Sachs Group by 175.8% during the 2nd quarter. Sound Income Strategies LLC now owns 182 shares of the investment management company's stock worth $129,000 after purchasing an additional 116 shares in the last quarter. Norris Perne & French LLP MI acquired a new position in shares of The Goldman Sachs Group in the second quarter valued at approximately $246,000. Scott & Selber Inc. increased its stake in shares of The Goldman Sachs Group by 0.6% in the second quarter. Scott & Selber Inc. now owns 6,721 shares of the investment management company's stock valued at $4,757,000 after buying an additional 38 shares during the period. Global Trust Asset Management LLC boosted its position in The Goldman Sachs Group by 27.6% during the 2nd quarter. Global Trust Asset Management LLC now owns 2,595 shares of the investment management company's stock worth $1,837,000 after buying an additional 562 shares during the period. Finally, Independence Bank of Kentucky boosted its position in The Goldman Sachs Group by 2.0% during the 2nd quarter. Independence Bank of Kentucky now owns 2,307 shares of the investment management company's stock worth $1,633,000 after buying an additional 45 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on GS shares. Zacks Research cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Wells Fargo & Company upped their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. JMP Securities restated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. 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. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $665.00.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John E. Waldron sold 9,000 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the transaction, the chief operating officer 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 owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $802.91 on Monday. The firm has a market capitalization of $243.06 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.67 and a beta of 1.41. The firm's 50-day moving average price is $747.32 and its 200-day moving average price is $648.04. 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, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS 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 business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the company posted $8.62 EPS. The firm's revenue was up 14.5% compared to the same quarter last year. Equities research analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $4.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

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.

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