Stiles Financial Services Inc bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,277 shares of the investment management company's stock, valued at approximately $905,000.
A number of other hedge funds and other institutional investors have also modified their holdings of GS. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at $25,000. Dogwood Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC raised its holdings in shares of The Goldman Sachs Group by 46.9% in the 1st 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 raised its holdings in shares of The Goldman Sachs Group by 45.9% in the 2nd 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. 71.21% of the stock is currently owned by institutional investors and hedge funds.
The Goldman Sachs Group Stock Up 0.4%
Shares of NYSE:GS opened at $779.60 on Friday. The company has a market cap of $236.00 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.47 and a beta of 1.42. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The firm's 50-day simple moving average is $759.68 and its 200-day simple moving average is $661.09. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm's revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.62 earnings per share. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.
The Goldman Sachs Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were issued a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group's payout ratio is presently 35.26%.
Analyst Ratings Changes
GS has been the topic of a number of analyst reports. BMO Capital Markets initiated coverage on shares of The Goldman Sachs Group in a report on Friday, October 3rd. They issued a "market perform" rating and a $785.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Citigroup lifted their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. HSBC lifted their price target on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and an average target price of $727.31.
Read Our Latest Research Report on GS
Insider Activity at The Goldman Sachs Group
In related news, COO John E. Waldron sold 9,000 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares of the company's stock, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 in the last ninety days. Corporate insiders own 0.55% of the company's stock.
About The Goldman Sachs Group
(
Free Report)
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.
Further Reading
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