Ritholtz Wealth Management Purchases 1,329 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Ritholtz Wealth Management increased its stake in The Goldman Sachs Group by 16.3%, purchasing an additional 1,329 shares during the second quarter, bringing its total holdings to 9,483 shares valued at approximately $6.7 million.
• Goldman Sachs reported $12.25 earnings per share for the latest quarter, surpassing estimates, but revenue of $11.33 billion fell short of the expected $13.68 billion, reflecting a 19.5% year-over-year revenue increase.
• Recent analyst reports show price target increases for Goldman Sachs, with Keefe, Bruyette & Woods raising it from $790 to $850 and Citigroup increasing it from $550 to $700, while the average target among analysts stands at $746.69.

Ritholtz Wealth Management boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 16.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,483 shares of the investment management company's stock after buying an additional 1,329 shares during the quarter. Ritholtz Wealth Management's holdings in The Goldman Sachs Group were worth $6,711,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group in the 1st quarter valued at $25,000. Dogwood Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after buying an additional 36 shares during the last quarter. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC increased its position in shares of The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock valued at $38,000 after acquiring an additional 23 shares during the last quarter. Finally, Ridgewood Investments LLC raised its holdings in The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the sale, the chief executive officer directly owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. The trade was a 4.98% 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 quarter. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GS has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $790.00 to $850.00 and gave the company a "market perform" rating in a research report on Friday, October 10th. Citigroup increased their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Royal Bank Of Canada reaffirmed a "neutral" rating and set a $843.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday. Finally, BMO Capital Markets began coverage on shares of The Goldman Sachs Group in a research report on Friday, October 3rd. They issued a "market perform" rating and a $785.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $746.69.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $771.44 on Wednesday. The stock has a market cap of $233.53 billion, a PE ratio of 17.00, a P/E/G ratio of 1.48 and a beta of 1.42. 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 firm has a 50-day moving average of $763.05 and a 200-day moving average of $666.12. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating the consensus estimate of $10.27 by $1.98. The firm had revenue of $11.33 billion for the quarter, compared to analysts' expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business's revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $8.40 EPS. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid a $4.00 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.1%. The Goldman Sachs Group's payout ratio is 35.26%.

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.

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