Meitav Investment House Ltd. Grows Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Meitav Investment House Ltd. increased its stake in The Goldman Sachs Group, raising its holdings by 15.1% during the second quarter, now owning 11,811 shares valued at approximately $8.28 million.
• The Goldman Sachs Group reported strong quarterly earnings with an EPS of $10.91, surpassing estimates, and a revenue of $14.58 billion, up 14.5% from the previous year.
• The company announced a higher quarterly dividend of $4.00 per share, representing a yield of 2.0%, up from its previous dividend of $3.00.

Meitav Investment House Ltd. increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 15.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,811 shares of the investment management company's stock after acquiring an additional 1,552 shares during the quarter. Meitav Investment House Ltd.'s holdings in The Goldman Sachs Group were worth $8,283,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new position in The Goldman Sachs Group in the first quarter worth about $25,000. Dogwood Wealth Management LLC raised its holdings in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. American Capital Advisory LLC bought a new position in The Goldman Sachs Group in the first quarter worth about $29,000. Cornerstone Planning Group LLC raised its holdings in The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after purchasing an additional 23 shares in the last quarter. Finally, Ridgewood Investments LLC raised its holdings in The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after purchasing an additional 17 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $796.13 on Tuesday. 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 Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The company has a 50 day simple moving average of $756.50 and a two-hundred day simple moving average of $657.99. The stock has a market cap of $241.00 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.64 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the previous year, the business posted $8.62 EPS. The business's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. HSBC boosted their target price on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of The Goldman Sachs Group in a research report on Saturday, September 27th. Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. Finally, JMP Securities reaffirmed a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus target price of $717.00.

Insider Buying and Selling at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the transaction, the chief operating officer directly owned 106,268 shares of the company's stock, valued at $79,755,196.68. The trade was a 7.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by 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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