Spartan Planning & Wealth Management Acquires Shares of 623 The Goldman Sachs Group, Inc. $GS

Key Points

• Spartan Planning & Wealth Management acquired 623 shares of The Goldman Sachs Group, valued at approximately $441,000, during the second quarter, as disclosed in a recent SEC filing.
• The Goldman Sachs Group reported a Q2 earnings per share (EPS) of $10.91, surpassing analyst estimates of $9.82, with revenue growing by 14.5% year-over-year to $14.58 billion.
• The company increased its quarterly dividend to $4.00 per share, up from $3.00, representing a 2.0% dividend yield and an annual payout of $16.00.

Spartan Planning & Wealth Management acquired a new stake in 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 Securities & Exchange Commission. The firm acquired 623 shares of the investment management company's stock, valued at approximately $441,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group in the first quarter valued at approximately $25,000. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group in the first quarter valued at approximately $29,000. Godsey & Gibb Inc. lifted its holdings in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings 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 purchasing an additional 23 shares in the last quarter. Finally, Ridgewood Investments LLC lifted its holdings in shares of The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $804.07 on Tuesday. The firm has a market cap of $243.41 billion, a PE ratio of 17.72, a PEG ratio of 1.67 and a beta of 1.41. The stock's fifty day moving average price is $749.28 and its two-hundred day moving average price is $649.87. 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, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued 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 firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $8.62 earnings per share. On average, equities research 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 announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $4.00 dividend. The ex-dividend date was Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is presently 35.26%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction 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 sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. Corporate insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GS. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Citigroup boosted their price objective on 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. Finally, Wells Fargo & Company boosted their price objective on 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. 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 company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $674.93.

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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