Gitterman Wealth Management LLC Makes New Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• Gitterman Wealth Management LLC purchased a new stake of 678 shares in The Goldman Sachs Group, valued at approximately $371,000, during the first quarter.
• The Goldman Sachs Group recently increased its quarterly dividend from $3.00 to $4.00 per share, representing an annualized dividend of $16.00 with a yield of 2.2%.
• Analysts have set varied price targets for Goldman Sachs, with Citigroup raising its target from $550.00 to $700.00 and Morgan Stanley from $680.00 to $715.00, indicating mixed sentiment on the stock.

Gitterman Wealth Management LLC bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 678 shares of the investment management company's stock, valued at approximately $371,000.

Other institutional investors have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group during the first quarter worth about $25,000. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group during the first quarter worth about $29,000. Godsey & Gibb Inc. grew its holdings in shares of The Goldman Sachs Group by 170.0% during the first 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 last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on GS shares. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Evercore ISI set a $715.00 price target on The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods boosted 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. Citigroup boosted their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and an average price target of $660.00.

Insiders Place Their Bets

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,079 shares of company stock worth $14,423,221. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 3.6%

GS stock traded up $25.8940 during trading on Friday, hitting $741.8440. The company had a trading volume of 1,948,403 shares, compared to its average volume of 1,761,464. The business has a 50-day moving average of $705.56 and a 200-day moving average of $620.45. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $749.05. The stock has a market cap of $224.57 billion, a PE ratio of 16.35, a PEG ratio of 1.58 and a beta of 1.38. 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 announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the prior year, the business posted $8.62 earnings per share. The firm's revenue was up 14.5% on a year-over-year basis. Research 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 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 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 2.2%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 26.44%.

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.