Jessup Wealth Management Inc Invests $1.12 Million in The Goldman Sachs Group, Inc. (NYSE:GS)

Jessup Wealth Management Inc bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,049 shares of the investment management company's stock, valued at approximately $1,119,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group during the 1st quarter valued at about $29,000. Curio Wealth LLC bought a new position in The Goldman Sachs Group during the 4th quarter valued at about $30,000. Godsey & Gibb Inc. lifted its stake in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after acquiring an additional 34 shares during the period. Transce3nd LLC bought a new position in The Goldman Sachs Group during the 4th quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in The Goldman Sachs Group during the 4th quarter valued at about $31,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Daiwa America cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. JMP Securities reduced their target price on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $570.00 to $592.00 and gave the company an "equal weight" rating in a report on Monday, June 23rd. JPMorgan Chase & Co. cut their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $614.00.

The Goldman Sachs Group Stock Down 1.6%

Shares of GS stock traded down $11.14 on Tuesday, hitting $699.79. The stock had a trading volume of 1,465,687 shares, compared to its average volume of 2,397,367. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41. The business has a 50 day moving average price of $620.36 and a 200 day moving average price of $593.17. The company has a market cap of $214.72 billion, a PE ratio of 16.28, a P/E/G ratio of 0.99 and a beta of 1.35. The Goldman Sachs Group, Inc. has a one year low of $437.37 and a one year high of $726.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating the consensus estimate of $12.57 by $1.55. The firm had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. During the same period in the previous year, the company posted $11.58 earnings per share. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a yield of 1.71%. The Goldman Sachs Group's dividend payout ratio is presently 27.85%.

Insider Buying and Selling

In other news, Director John B. Hess bought 3,904 shares of The Goldman Sachs Group stock in a transaction on Tuesday, April 15th. The stock was acquired at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the acquisition, the director owned 3,904 shares of the company's stock, valued at $1,997,598.72. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company's stock.

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.