Spirepoint Private Client LLC Grows Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Spirepoint Private Client LLC increased its stake in The Goldman Sachs Group by 252.6%, acquiring a total of 8,758 shares valued at approximately $6.2 million.
• The Goldman Sachs Group reported $10.91 EPS for the last quarter, surpassing analyst expectations, with a significant year-over-year revenue increase of 14.5%.
• The firm declared a quarterly dividend increase from $3.00 to $4.00 per share, reflecting a 2.0% dividend yield, indicating strong financial performance.

Spirepoint Private Client LLC lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 252.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,758 shares of the investment management company's stock after purchasing an additional 6,274 shares during the period. Spirepoint Private Client LLC's holdings in The Goldman Sachs Group were worth $6,198,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC lifted its position in 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 acquiring an additional 17 shares during the last quarter. Bank of Stockton lifted its position in The Goldman Sachs Group by 0.7% in the second quarter. Bank of Stockton now owns 2,485 shares of the investment management company's stock valued at $1,759,000 after acquiring an additional 17 shares during the last quarter. King Wealth Management Group lifted its position in The Goldman Sachs Group by 1.8% in the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock valued at $593,000 after acquiring an additional 19 shares during the last quarter. Raab & Moskowitz Asset Management LLC lifted its position in The Goldman Sachs Group by 0.9% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company's stock valued at $1,104,000 after acquiring an additional 19 shares during the last quarter. Finally, Wynn Capital LLC lifted its position in The Goldman Sachs Group by 0.3% in the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock valued at $3,211,000 after acquiring an additional 20 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 1.0%

NYSE GS opened at $802.91 on Friday. 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 market cap of $243.06 billion, a PE ratio of 17.69, a P/E/G ratio of 1.65 and a beta of 1.41. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The firm's fifty day moving average is $747.32 and its two-hundred day moving average is $646.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The Goldman Sachs Group's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $8.62 earnings per share. Analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share 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 paid a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Insider Activity

In other news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, 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 legal filing with the SEC, which is available through this link. Also, COO John E. Waldron sold 9,244 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. This trade represents a 7.42% 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. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GS. Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, JMP Securities reissued a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $665.00.

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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