RBA Wealth Management LLC Takes Position in The Goldman Sachs Group, Inc. $GS

Key Points

• RBA Wealth Management LLC purchased approximately 7,969 shares of The Goldman Sachs Group, valued at about $5.64 million, making it the firm’s 17th largest position in their investment portfolio.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00 per share, representing an annualized dividend increase to $16.00 and a yield of 2.0%.
• Goldman Sachs reported $10.91 EPS for the last quarter, exceeding analyst expectations and demonstrating a 14.5% revenue growth compared to the same quarter last year.

RBA Wealth Management LLC purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,969 shares of the investment management company's stock, valued at approximately $5,640,000. The Goldman Sachs Group makes up 2.1% of RBA Wealth Management LLC's investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SC&H Financial Advisors Inc. boosted its holdings in shares of The Goldman Sachs Group by 7.4% during the second quarter. SC&H Financial Advisors Inc. now owns 463 shares of the investment management company's stock worth $328,000 after purchasing an additional 32 shares during the last quarter. Chatham Capital Group Inc. increased its holdings in shares of The Goldman Sachs Group by 2.4% during the second quarter. Chatham Capital Group Inc. now owns 1,952 shares of the investment management company's stock worth $1,382,000 after buying an additional 45 shares in the last quarter. Western Financial Corp CA boosted its position in shares of The Goldman Sachs Group by 0.5% during the second quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company's stock worth $2,546,000 after purchasing an additional 17 shares in the last quarter. Signature Resources Capital Management LLC increased its stake in shares of The Goldman Sachs Group by 90.0% during the 2nd quarter. Signature Resources Capital Management LLC now owns 190 shares of the investment management company's stock worth $134,000 after purchasing an additional 90 shares during the last quarter. Finally, Spirepoint Private Client LLC grew its position in shares of The Goldman Sachs Group by 252.6% during the 2nd quarter. Spirepoint Private Client LLC now owns 8,758 shares of the investment management company's stock worth $6,198,000 after purchasing an additional 6,274 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $802.91 on Friday. 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 company's fifty day moving average is $747.32 and its 200 day moving average is $647.18. The stock has a market cap of $243.06 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 1.67 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last posted 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 Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business 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 posted $8.62 EPS. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side 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 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%.

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 that occurred on Friday, July 25th. The stock was 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 directly owned 18,594 shares of the company's stock, valued at $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 available through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 over the last three months. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. HSBC restated a "reduce" rating and set a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Zacks Research downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $665.00.

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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