Peak Financial Advisors LLC Invests $505,000 in The Goldman Sachs Group, Inc. $GS

Key Points

• Peak Financial Advisors LLC has invested approximately $505,000 in The Goldman Sachs Group, Inc., acquiring 713 shares of stock in the company.
• Goldman Sachs recently declared a quarterly dividend of $4.00, marking an increase from the previous dividend of $3.00, and representing a dividend yield of 2.0%.
• The company reported earnings of $10.91 EPS for the last quarter, surpassing analysts' expectations of $9.82 in earnings per share.

Peak Financial Advisors LLC acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 713 shares of the investment management company's stock, valued at approximately $505,000.

Other hedge funds and other institutional investors have also bought and sold shares of 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 worth $286,418,000 after buying an additional 116,535 shares in the last quarter. Clear Creek Financial Management LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter worth $321,000. Blueshift Asset Management LLC increased its stake in The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock worth $576,000 after buying an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. increased its stake in The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock worth $27,205,000 after buying an additional 14,600 shares in the last quarter. Finally, Terra Nova Asset Management LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter worth $1,643,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 0.5%

Shares of The Goldman Sachs Group stock opened at $780.87 on Friday. The firm has a market cap of $236.39 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.65 and a beta of 1.41. The business has a 50-day moving average price of $728.85 and a 200-day moving average price of $631.58. 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 twelve month low of $439.38 and a twelve month high of $793.17.

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, beating the consensus estimate 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 firm had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the prior year, the company earned $8.62 EPS. The business's revenue was up 14.5% compared to the same quarter last year. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis 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 payout ratio is 35.26%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares of the company's stock, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 in the last 90 days. 0.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. HSBC reiterated a "reduce" rating and issued a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. JMP Securities reiterated a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $660.00.

About The Goldman Sachs Group

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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