Orrstown Financial Services Inc. Acquires Shares of 956 The Goldman Sachs Group, Inc. $GS

Key Points

• Orrstown Financial Services Inc. acquired a new stake in The Goldman Sachs Group, purchasing 956 shares valued at approximately $677,000 during the second quarter.
• Goldman Sachs recently announced a dividend increase to $4.00 per share, reflecting a 33% rise from the previous $3.00, with an overall yield of 2.0% for shareholders.
• The company's stock has a consensus rating of "Hold" from analysts, with an average price target of $665.00, indicating mixed sentiment towards its performance.

Orrstown Financial Services Inc. bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 956 shares of the investment management company's stock, valued at approximately $677,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GS. Clal Insurance Enterprises Holdings Ltd purchased a new stake in The Goldman Sachs Group during the 1st quarter worth $25,000. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group during the 1st quarter worth $29,000. Godsey & Gibb Inc. increased its stake in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after buying an additional 34 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group during the 4th quarter worth $31,000. Finally, Lowe Wealth Advisors LLC increased its position in shares of The Goldman Sachs Group by 326.7% in the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Ratings Changes

GS has been the subject of several research analyst reports. HSBC reissued a "reduce" rating and issued 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 reissued a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Citigroup boosted their target price on shares of 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 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. Finally, JMP Securities reissued 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. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $665.00.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded down $1.89 during trading on Tuesday, reaching $803.67. The company had a trading volume of 1,022,420 shares, compared to its average volume of 2,437,685. The firm's fifty day moving average is $739.87 and its 200 day moving average is $640.52. The firm has a market capitalization of $243.29 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. 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 issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping 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 company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the business posted $8.62 EPS. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current 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 issued a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Insider Activity

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John E. Waldron sold 9,000 shares of the company's 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 owned 106,268 shares in the company, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is owned by insiders.

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.