Morangie Management LLC Has $5.08 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Morangie Management LLC increased its stake in The Goldman Sachs Group by 31.7% during the second quarter, holding a total of 7,180 shares valued at approximately $5.08 million.
• The Goldman Sachs Group announced a quarterly dividend increase from $3.00 to $4.00, reflecting an annualized yield of 2.0%.
• Wall Street analysts have a consensus rating of "Hold" on The Goldman Sachs Group, with a consensus price target of $665.00.

Morangie Management LLC boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 31.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,180 shares of the investment management company's stock after purchasing an additional 1,729 shares during the period. The Goldman Sachs Group comprises approximately 4.4% of Morangie Management LLC's portfolio, making the stock its 6th biggest holding. Morangie Management LLC's holdings in The Goldman Sachs Group were worth $5,082,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Essex Financial Services Inc. lifted its stake in The Goldman Sachs Group by 6.5% in the second quarter. Essex Financial Services Inc. now owns 4,670 shares of the investment management company's stock valued at $3,305,000 after purchasing an additional 285 shares during the last quarter. Dakota Wealth Management lifted its stake in The Goldman Sachs Group by 2.9% in the second quarter. Dakota Wealth Management now owns 16,310 shares of the investment management company's stock valued at $11,543,000 after purchasing an additional 456 shares during the last quarter. Magnus Financial Group LLC lifted its stake in The Goldman Sachs Group by 5.4% in the second quarter. Magnus Financial Group LLC now owns 4,156 shares of the investment management company's stock valued at $2,941,000 after purchasing an additional 213 shares during the last quarter. TigerOak Management L.L.C. lifted its stake in The Goldman Sachs Group by 11.2% in the second quarter. TigerOak Management L.L.C. now owns 4,368 shares of the investment management company's stock valued at $3,091,000 after purchasing an additional 440 shares during the last quarter. Finally, TB Alternative Assets Ltd. purchased a new position in The Goldman Sachs Group in the second quarter valued at approximately $1,416,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GS. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Citigroup increased their target price 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. HSBC restated a "reduce" rating and set a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, The Goldman Sachs Group has a consensus rating of "Hold" and a consensus price target of $665.00.

The Goldman Sachs Group Trading Up 0.3%

The Goldman Sachs Group stock opened at $794.75 on Friday. The stock has a market cap of $240.59 billion, a P/E ratio of 17.51, a PEG ratio of 1.65 and a beta of 1.41. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The firm's fifty day moving average price is $745.43 and its 200-day moving average price is $644.54. 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 released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping the consensus estimate of $9.82 by $1.09. The firm 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 business's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.62 earnings per share. Equities research analysts forecast 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 is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is currently 35.26%.

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction 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 transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John E. Waldron sold 9,244 shares of the 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 completion of the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 in the last three months. Insiders own 0.55% of the company's stock.

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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