Lee Johnson Capital Management LLC Buys New Shares in The Goldman Sachs Group, Inc. $GS

Key Points

• Lee Johnson Capital Management LLC acquired a new stake of 1,778 shares in The Goldman Sachs Group, Inc. valued at approximately $1.26 million during the second quarter.
• The company reported earnings of $10.91 per share, surpassing the consensus estimate by $1.09, and had a quarterly revenue of $14.58 billion, exceeding expectations significantly.
• The Goldman Sachs Group announced a quarterly dividend increase to $4.00 per share, reflecting a 2.0% dividend yield, up from the previous dividend of $3.00.

Lee Johnson Capital Management LLC bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,778 shares of the investment management company's stock, valued at approximately $1,258,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GS. Kingstone Capital Partners Texas LLC increased its position in The Goldman Sachs Group by 617,504.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock worth $20,566,005,000 after buying an additional 29,053,586 shares during the last quarter. Northern Trust Corp raised its stake in The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after buying an additional 40,125 shares during the period. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group in the first quarter valued at approximately $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in The Goldman Sachs Group by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock valued at $1,138,527,000 after buying an additional 120,272 shares during the period. Finally, Amundi raised its stake in The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company's stock valued at $967,193,000 after buying an additional 225,993 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $804.07 on Tuesday. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The stock's 50 day moving average is $749.28 and its 200-day moving average is $649.87. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $243.41 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.67 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The business 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 firm's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $8.62 earnings per share. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid 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 presently 35.26%.

Analysts Set New Price Targets

Several research firms have issued reports on GS. Citigroup upped their price objective on 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. Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Finally, Wells Fargo & Company upped their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and an average price target of $674.93.

Insider Buying and Selling

In related 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 value of $5,406,197.20. Following the completion of the sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David M. Solomon sold 6,608 shares of the business'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 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. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

About The Goldman Sachs Group

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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