Rooted Wealth Advisors Inc. Invests $225,000 in The Goldman Sachs Group, Inc. $GS

Key Points

• Rooted Wealth Advisors Inc. has acquired 319 shares of The Goldman Sachs Group, Inc. valued at approximately $225,000 in Q2, reflecting growing interest in the investment management company.
• The Goldman Sachs Group has experienced various adjustments from multiple hedge funds, with 71.21% of the stock currently held by institutional investors.
• The company has declared a quarterly dividend of $4.00, an increase from the previous $3.00, indicating a commitment to returning value to shareholders.

Rooted Wealth Advisors Inc. acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 319 shares of the investment management company's stock, valued at approximately $225,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC boosted its stake in The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock valued at $20,566,005,000 after acquiring an additional 29,053,586 shares during the period. GAMMA Investing LLC raised its stake in The Goldman Sachs Group by 63,864.7% during the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock valued at $2,172,423,000 after purchasing an additional 3,970,467 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in The Goldman Sachs Group in the 1st quarter valued at $1,766,238,000. Nuveen LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth about $897,185,000. Finally, Assenagon Asset Management S.A. lifted its stake in The Goldman Sachs Group by 102.6% in the first quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock valued at $8,065,000 after buying an additional 585,084 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was 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 approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group 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 directly owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. Insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

GS has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. HSBC reissued 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. Wells Fargo & Company raised 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, Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $665.00.

The Goldman Sachs Group Trading Up 0.0%

Shares of NYSE GS traded up $0.20 during trading on Monday, hitting $805.20. 1,150,956 shares of the company were exchanged, compared to its average volume of 1,696,610. The company has a fifty day moving average price of $739.87 and a 200-day moving average price of $640.52. The firm has a market capitalization of $243.75 billion, a PE ratio of 17.74, a P/E/G ratio of 1.68 and a beta of 1.41. 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 Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $809.66.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results 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 company had revenue of $14.58 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.62 earnings per share. As a group, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $4.00 dividend. This represents a $16.00 annualized dividend and a 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%.

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.