NBT Bank N A NY Acquires 583 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• NBT Bank N A NY increased its stake in The Goldman Sachs Group by 6.3%, acquiring an additional 583 shares in the 2nd quarter, bringing its total holdings to 9,876 shares valued at approximately $6.99 million.
• The Goldman Sachs Group's recent earnings report showed a strong performance with $10.91 EPS for the quarter, exceeding analyst expectations and reflecting a 14.5% increase in year-over-year revenue.
• The company announced a quarterly dividend increase from $3.00 to $4.00, effective September 29th, reflecting an annualized payout of $16.00 and a yield of 2.0%.

NBT Bank N A NY boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 6.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,876 shares of the investment management company's stock after acquiring an additional 583 shares during the period. NBT Bank N A NY's holdings in The Goldman Sachs Group were worth $6,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mechanics Financial Corp grew its holdings in The Goldman Sachs Group by 5.8% during the 2nd quarter. Mechanics Financial Corp now owns 294 shares of the investment management company's stock worth $208,000 after acquiring an additional 16 shares in the last quarter. Ridgewood Investments LLC grew its holdings in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after acquiring an additional 17 shares in the last quarter. Bank of Stockton grew its holdings in The Goldman Sachs Group by 0.7% during the 2nd quarter. Bank of Stockton now owns 2,485 shares of the investment management company's stock worth $1,759,000 after acquiring an additional 17 shares in the last quarter. Western Financial Corp CA grew its holdings in The Goldman Sachs Group by 0.5% during the 2nd quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company's stock worth $2,546,000 after acquiring an additional 17 shares in the last quarter. Finally, Ameriflex Group Inc. grew its holdings in The Goldman Sachs Group by 21.4% during the 2nd quarter. Ameriflex Group Inc. now owns 102 shares of the investment management company's stock worth $70,000 after acquiring an additional 18 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Down 1.0%

GS stock opened at $788.56 on Wednesday. The firm has a 50 day moving average of $757.63 and a 200 day moving average of $658.90. The stock has a market capitalization of $238.71 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. 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 released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion during 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% on a year-over-year basis. During the same period last year, the business earned $8.62 EPS. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a $4.00 dividend. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

Insider Activity at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group 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 directly owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group 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 completion of the sale, the executive vice president owned 65,761 shares of the company's stock, valued at $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 over the last 90 days. Company insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group increased their target price on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a "neutral" rating in a report on Tuesday. Citigroup raised their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Evercore ISI raised their price target on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. Finally, JMP Securities restated a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a 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 stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus price target of $727.31.

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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