Hardy Reed LLC Makes New $1.29 Million Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• Hardy Reed LLC has made a new investment of $1.29 million in The Goldman Sachs Group, acquiring 1,823 shares during the second quarter.
• The Goldman Sachs Group recently increased its quarterly dividend payout from $3.00 to $4.00, offering a dividend yield of 2.0%.
• Analysts have provided mixed ratings on the stock, with a consensus rating of "Hold" and a price target averaging $717.00.

Hardy Reed LLC bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,823 shares of the investment management company's stock, valued at approximately $1,290,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after purchasing an additional 508 shares during the last quarter. Revolve Wealth Partners LLC increased its position in The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after acquiring an additional 58 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of The Goldman Sachs Group by 6.8% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,425 shares of the investment management company's stock valued at $779,000 after acquiring an additional 91 shares during the period. OLD National Bancorp IN boosted its stake in shares of The Goldman Sachs Group by 2.7% during the 1st quarter. OLD National Bancorp IN now owns 3,165 shares of the investment management company's stock worth $1,729,000 after purchasing an additional 82 shares during the period. Finally, Courier Capital LLC grew its holdings in The Goldman Sachs Group by 0.6% during the 1st quarter. Courier Capital LLC now owns 4,046 shares of the investment management company's stock valued at $2,210,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Citigroup increased 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. Deutsche Bank Aktiengesellschaft raised their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a "hold" rating in a research note on Tuesday, September 30th. Zacks Research downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of The Goldman Sachs Group in a research report on Saturday, September 27th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and a consensus price target of $717.00.

Insider Buying and Selling

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction 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 sale, the executive vice president owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. 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 company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 in the last three months. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $796.13 on Tuesday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. 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 stock has a fifty day simple moving average of $756.50 and a two-hundred day simple moving average of $657.99. The stock has a market capitalization of $241.00 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.64 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share 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 firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the company posted $8.62 earnings per share. The firm's quarterly revenue was up 14.5% on a year-over-year basis. On average, analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

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