Koss Olinger Consulting LLC Invests $233,000 in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Koss Olinger Consulting LLC has invested approximately $233,000 in The Goldman Sachs Group, purchasing 427 shares during the first quarter.
• Analysts have recently increased their price targets for Goldman Sachs, with Citigroup setting a new target of $700.00 and Morgan Stanley raising theirs to $715.00.
• The Goldman Sachs Group is set to increase its quarterly dividend to $4.00 per share, a rise from the previous $3.00 dividend, reflecting a positive change in its financial performance.

Koss Olinger Consulting LLC purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 427 shares of the investment management company's stock, valued at approximately $233,000.

Several other institutional investors also recently added to or reduced their stakes in GS. Connor Clark & Lunn Investment Management Ltd. increased its position in The Goldman Sachs Group by 120.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,424 shares of the investment management company's stock valued at $8,972,000 after purchasing an additional 8,980 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at about $301,000. Townsquare Capital LLC boosted its holdings in shares of The Goldman Sachs Group by 16.1% in the 1st quarter. Townsquare Capital LLC now owns 9,097 shares of the investment management company's stock valued at $4,970,000 after buying an additional 1,260 shares in the last quarter. Morton Community Bank boosted its stake in The Goldman Sachs Group by 1.5% in the 1st quarter. Morton Community Bank now owns 6,917 shares of the investment management company's stock worth $3,779,000 after purchasing an additional 100 shares in the last quarter. Finally, Founders Financial Alliance LLC boosted its stake in The Goldman Sachs Group by 17.4% in the 1st quarter. Founders Financial Alliance LLC now owns 2,026 shares of the investment management company's stock worth $1,107,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on GS. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. JMP Securities reaffirmed a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. HSBC reissued a "reduce" rating and issued a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Finally, Barclays dropped their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group has a consensus rating of "Hold" and an average price target of $660.00.

Insider Buying and Selling

In related news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the company'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 transaction of $4,310,079.12. Following the sale, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,079 shares of company stock worth $14,423,221. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 0.3%

NYSE GS opened at $721.76 on Monday. The firm's 50-day moving average is $681.52 and its two-hundred day moving average is $614.05. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $737.88. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $218.49 billion, a P/E ratio of 15.90, a PEG ratio of 1.53 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results 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 for the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. 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 company posted $8.62 earnings per share. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $4.00 per share. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. The Goldman Sachs Group's payout ratio is currently 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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