Independent Solutions Wealth Management LLC Raises Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Independent Solutions Wealth Management LLC increased its stake in The Goldman Sachs Group by 192.0% during the 2nd quarter, holding shares worth approximately $2,158,000 as of its latest SEC filing.
• The Goldman Sachs Group declared a quarterly dividend of $4.00, marking an increase from the previous dividend of $3.00, which represents a 2.0% dividend yield.
• A recent earnings report revealed that The Goldman Sachs Group posted $10.91 EPS for the quarter, surpassing estimates, with revenues of $14.58 billion, reflecting a 14.5% year-over-year increase.

Independent Solutions Wealth Management LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 192.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,049 shares of the investment management company's stock after acquiring an additional 2,005 shares during the period. Independent Solutions Wealth Management LLC's holdings in The Goldman Sachs Group were worth $2,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group in the first quarter valued at about $25,000. 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 valued at $26,000 after buying an additional 36 shares during the period. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC boosted its position in shares of The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after buying an additional 23 shares during the period. Finally, Ridgewood Investments LLC increased its stake in 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 buying an additional 17 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, JMP Securities reaffirmed a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. 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. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus target price of $717.00.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS 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 quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a market cap of $241.00 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.64 and a beta of 1.42. The business has a 50 day moving average price of $756.50 and a 200 day moving average price of $657.99.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the firm posted $8.62 EPS. The business's revenue was up 14.5% compared to the same quarter last year. Research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. This is an increase 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 is currently 35.26%.

Insider Activity at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the transaction, the chief operating officer directly owned 106,268 shares of the company's stock, valued at $79,755,196.68. This trade represents a 7.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Company 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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.