Precision Wealth Strategies LLC Purchases Shares of 1,073 The Goldman Sachs Group, Inc. $GS

Key Points

• Precision Wealth Strategies LLC has acquired 1,073 shares of The Goldman Sachs Group, Inc. valued at approximately $759,000 according to their latest 13F filing with the SEC.
• Insider trading reports indicate significant shares were sold by CFO Denis P. Coleman and COO John E. Waldron, leading to a 28.64% and 7.81% reduction in their ownership, respectively.
• The Goldman Sachs Group recently increased its quarterly dividend from $3.00 to $4.00 per share, signaling confidence in its financial position.

Precision Wealth Strategies LLC acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,073 shares of the investment management company's stock, valued at approximately $759,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $25,000. Dogwood Wealth Management LLC boosted its position in shares of The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock valued at $26,000 after purchasing an additional 36 shares during the period. American Capital Advisory LLC acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at $29,000. Godsey & Gibb Inc. increased its stake in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after buying an additional 23 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction on 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 sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO John E. Waldron sold 9,000 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the transaction, the chief operating officer directly owned 106,268 shares in the company, valued at $79,755,196.68. The trade was a 7.81% decrease in their ownership of the stock. 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 company insiders.

The Goldman Sachs Group Stock Down 1.0%

Shares of The Goldman Sachs Group stock opened at $788.44 on Thursday. The firm has a market cap of $238.68 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.65 and a beta of 1.42. The stock has a 50-day simple moving average of $752.61 and a 200-day simple moving average of $651.83. 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 debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67.

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, topping analysts' consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm's revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.62 earnings per share. On average, equities research analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a dividend of $4.00 per share. The ex-dividend date was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is 35.26%.

Analysts Set New Price Targets

Several research analysts have commented on GS shares. JMP Securities reiterated a "market perform" rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Citigroup lifted their price objective 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. Evercore ISI increased their target price on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an "outperform" rating in a report on Tuesday. HSBC reaffirmed 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. Finally, Royal Bank Of Canada increased their price objective on The Goldman Sachs Group from $750.00 to $843.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $709.13.

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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