New Insight Wealth Advisors Boosts Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• New Insight Wealth Advisors increased its holdings in The Goldman Sachs Group by 27.3%, owning 3,011 shares valued at approximately $2.13 million at the end of the last reporting period.
• Insider sales include CFO Denis P. Coleman and CEO David M. Solomon, who sold over 14,000 shares combined, indicating a decrease in their positions.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00 per share, an increase from the previous $3.00, leading to an annualized dividend yield of 2.0%.

New Insight Wealth Advisors grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 27.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,011 shares of the investment management company's stock after purchasing an additional 646 shares during the quarter. The Goldman Sachs Group makes up about 0.9% of New Insight Wealth Advisors' portfolio, making the stock its 28th biggest holding. New Insight Wealth Advisors' holdings in The Goldman Sachs Group were worth $2,131,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GS. Brighton Jones LLC increased its holdings in shares of The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after purchasing an additional 508 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after purchasing an additional 58 shares in the last quarter. Two Sigma Investments LP increased its holdings in The Goldman Sachs Group by 4.5% in the 4th quarter. Two Sigma Investments LP now owns 6,513 shares of the investment management company's stock worth $3,729,000 after acquiring an additional 280 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in The Goldman Sachs Group in the 4th quarter worth $48,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group in the 4th quarter worth $31,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction dated 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 owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Trading Up 0.3%

Shares of GS opened at $794.75 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. 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 firm's fifty day moving average is $745.43 and its two-hundred day moving average is $644.54. The stock has a market cap of $240.59 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The company 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 firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.62 EPS. 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is 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 is presently 35.26%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GS. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Zacks Research lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Citigroup boosted their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $665.00.

The Goldman Sachs Group Company 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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