Luts & Greenleigh Group Inc. Makes New $232,000 Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• Luts & Greenleigh Group Inc. purchased 328 shares of The Goldman Sachs Group, Inc. for approximately $232,000 during the second quarter.
• The Goldman Sachs Group has recently declared a quarterly dividend of $4.00 per share, increasing from the previous $3.00, which represents a yield of 2.0%.
• Goldman Sachs reported earnings of $10.91 per share for the last quarter, exceeding analyst estimates and reflecting a 14.5% increase in revenue compared to the same period last year.

Luts & Greenleigh Group Inc. acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 328 shares of the investment management company's stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TCV Trust & Wealth Management Inc. acquired a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $602,000. Elk River Wealth Management LLC boosted its stake in The Goldman Sachs Group by 5.6% in the 2nd quarter. Elk River Wealth Management LLC now owns 5,356 shares of the investment management company's stock worth $3,791,000 after purchasing an additional 283 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in The Goldman Sachs Group by 19.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 39,356 shares of the investment management company's stock worth $27,842,000 after buying an additional 6,500 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its position in The Goldman Sachs Group by 617,504.5% in the 2nd 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 in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in The Goldman Sachs Group by 2.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 60,315 shares of the investment management company's stock worth $42,688,000 after buying an additional 1,297 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Up 0.9%

Shares of The Goldman Sachs Group stock traded up $7.44 during midday trading on Tuesday, reaching $813.00. 628,719 shares of the company's stock traded hands, compared to its average volume of 2,435,852. The company has a market cap of $246.11 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The company's 50 day simple moving average is $739.87 and its 200 day simple moving average is $640.52. 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, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the business posted $8.62 EPS. The Goldman Sachs Group's revenue was up 14.5% compared to the same quarter last year. Equities analysts expect 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 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 $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

Analyst Upgrades and Downgrades

GS has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of 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. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. JMP Securities reiterated a "market perform" rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Morgan Stanley increased their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus target price of $665.00.

Insider Activity

In related news, COO John E. Waldron sold 9,244 shares of the firm's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, 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 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by corporate insiders.

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.