Ignite Planners LLC Makes New Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• Ignite Planners LLC has acquired a new position in The Goldman Sachs Group, Inc., purchasing 337 shares valued at approximately $239,000 during the second quarter.
• The Goldman Sachs Group's stock recently dropped by 1.5%, closing at $777.49, despite reporting better-than-expected earnings with a quarterly EPS of $10.91.
• The company has increased its quarterly dividend to $4.00 per share, resulting in an annual dividend of $16.00 and a yield of 2.1%.

Ignite Planners LLC bought a new position 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 & Exchange Commission. The fund bought 337 shares of the investment management company's stock, valued at approximately $239,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Clearstead Trust LLC bought a new stake in The Goldman Sachs Group in the second quarter worth $31,000. W.H. Cornerstone Investments Inc. increased its position in shares of The Goldman Sachs Group by 12.2% during the second quarter. W.H. Cornerstone Investments Inc. now owns 2,388 shares of the investment management company's stock valued at $1,690,000 after acquiring an additional 259 shares in the last quarter. Good Life Advisors LLC increased its position in shares of The Goldman Sachs Group by 9.7% during the second quarter. Good Life Advisors LLC now owns 948 shares of the investment management company's stock valued at $671,000 after acquiring an additional 84 shares in the last quarter. WASHINGTON TRUST Co increased its position in shares of The Goldman Sachs Group by 26.0% during the second quarter. WASHINGTON TRUST Co now owns 853 shares of the investment management company's stock valued at $604,000 after acquiring an additional 176 shares in the last quarter. Finally, ABN Amro Investment Solutions bought a new stake in shares of The Goldman Sachs Group during the second quarter valued at approximately $3,648,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Down 1.5%

The Goldman Sachs Group stock opened at $777.49 on Thursday. The stock has a market cap of $235.36 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.49 and a beta of 1.42. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The stock has a fifty day moving average of $758.55 and a 200 day moving average of $659.72.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The Goldman Sachs Group's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.62 earnings per share. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 35.26%.

Analyst Upgrades and Downgrades

GS has been the subject of several analyst reports. Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Deutsche Bank Aktiengesellschaft upped their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a "hold" rating in a report on Tuesday, September 30th. Wells Fargo & Company upped their price target 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. Zacks Research downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, BMO Capital Markets assumed coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They set a "market perform" rating and a $785.00 price target on the stock. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of "Hold" and an average price target of $727.31.

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the company'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 completion of the sale, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. The trade was a 4.98% 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 worth $28,111,828 in the last three months. 0.55% of the stock is owned by insiders.

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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