Jump Financial LLC Makes New Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• Jump Financial LLC has acquired 17,566 shares of The Goldman Sachs Group, valued at approximately $9.6 million, as disclosed in their recent SEC filing.
• Goldman Sachs has announced a dividend increase from $3.00 to $4.00 per share, with a dividend yield of 2.2%, set to be paid on September 29th.
• Recent analyst ratings for Goldman Sachs have varied, with Citigroup raising its price target to $700 while several other firms have issued a consensus rating of "Hold" with a target price of $660.

Jump Financial LLC bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 17,566 shares of the investment management company's stock, valued at approximately $9,596,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cadence Bank boosted its holdings in The Goldman Sachs Group by 148.8% during the first quarter. Cadence Bank now owns 3,414 shares of the investment management company's stock worth $1,865,000 after buying an additional 2,042 shares during the last quarter. APG Asset Management N.V. raised its position in shares of The Goldman Sachs Group by 4.4% during the first quarter. APG Asset Management N.V. now owns 321,187 shares of the investment management company's stock worth $162,434,000 after purchasing an additional 13,588 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of The Goldman Sachs Group by 4.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 96,925 shares of the investment management company's stock worth $52,949,000 after purchasing an additional 4,518 shares during the period. Haverford Trust Co raised its position in shares of The Goldman Sachs Group by 4.2% during the first quarter. Haverford Trust Co now owns 3,446 shares of the investment management company's stock worth $1,883,000 after purchasing an additional 140 shares during the period. Finally, Trinity Legacy Partners LLC raised its position in shares of The Goldman Sachs Group by 133.3% during the first quarter. Trinity Legacy Partners LLC now owns 5,848 shares of the investment management company's stock worth $3,531,000 after purchasing an additional 3,341 shares during the period. Institutional investors own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GS. Citigroup raised their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, HSBC reaffirmed a "reduce" rating and set a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $660.00.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,079 shares of company stock valued at $14,423,221 in the last 90 days. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Up 3.6%

Shares of The Goldman Sachs Group stock opened at $741.8440 on Friday. The business's 50 day simple moving average is $705.56 and its 200 day simple moving average is $620.70. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $749.05. The firm has a market cap of $224.57 billion, a PE ratio of 16.35, a P/E/G ratio of 1.58 and a beta of 1.38. 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 (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $13.53 billion. During the same quarter last year, the firm earned $8.62 EPS. The Goldman Sachs Group's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group's payout ratio is presently 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.

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