Parkwoods Wealth Partners LLC Acquires Shares of 323 The Goldman Sachs Group, Inc. $GS

Key Points

• Parkwoods Wealth Partners LLC has acquired 323 shares of The Goldman Sachs Group, Inc., valued at approximately $229,000, indicating increased interest from institutional investors.
• Various analysts have recently updated their price targets for Goldman Sachs, with Morgan Stanley raising its target to $854.00 and Wells Fargo to $855.00, suggesting bullish sentiment among sell-side analysts.
• The Goldman Sachs Group has announced a quarterly dividend increase from $3.00 to $4.00, resulting in an annualized basis payout of $16.00, reflecting strong financial performance and commitment to shareholder returns.

Parkwoods Wealth Partners LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 323 shares of the investment management company's stock, valued at approximately $229,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its stake in The Goldman Sachs Group by 28.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock valued at $286,418,000 after buying an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC bought a new position in The Goldman Sachs Group during the first quarter valued at about $321,000. Blueshift Asset Management LLC grew its position in The Goldman Sachs Group by 161.8% during the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after buying an additional 652 shares during the period. Adams Diversified Equity Fund Inc. grew its position in The Goldman Sachs Group by 41.5% during the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after buying an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC bought a new position in The Goldman Sachs Group during the first quarter valued at about $1,643,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GS. JMP Securities restated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Morgan Stanley increased their target price on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an "equal weight" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their target price on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a "hold" rating in a research report on Tuesday. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $690.27.

Insider Activity at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the firm's 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 sale, the chief executive officer directly owned 126,176 shares of the company's stock, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the firm'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 transaction of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

GS stock opened at $796.20 on Wednesday. The firm has a 50 day moving average of $751.18 and a 200-day moving average of $650.88. 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 firm has a market capitalization of $241.02 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating 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 last year, the business earned $8.62 earnings per share. The Goldman Sachs Group's revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts predict 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 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 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 yield of 2.0%. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group's payout ratio is 35.26%.

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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