Strait & Sound Wealth Management LLC Buys 587 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Strait & Sound Wealth Management LLC increased its holdings in The Goldman Sachs Group by 33.0% during the first quarter, owning a total of 2,364 shares worth approximately $1,292,000 as of its latest filing.
• CEO David M. Solomon sold 6,608 shares for about $4.7 million, reducing his ownership by 4.98%, while COO John E. Waldron also sold 9,000 shares valued at approximately $6.8 million.
• Goldman Sachs reported earnings of $10.91 per share for the last quarter, surpassing estimates and showing a revenue increase of 14.5% year-over-year, with a Shareholder dividend of $4.00 scheduled for payout on September 29th.

Strait & Sound Wealth Management LLC raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 33.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,364 shares of the investment management company's stock after acquiring an additional 587 shares during the quarter. Strait & Sound Wealth Management LLC's holdings in The Goldman Sachs Group were worth $1,292,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position 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 acquiring an additional 3,970,467 shares in the last quarter. Northern Trust Corp boosted its position in The Goldman Sachs Group by 1.2% during the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after acquiring an additional 40,125 shares in the last quarter. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group during the 1st quarter valued at approximately $1,766,238,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in The Goldman Sachs Group by 15.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,963,836 shares of the investment management company's stock valued at $1,124,532,000 after acquiring an additional 256,204 shares in the last quarter. Finally, Amundi boosted its position in The Goldman Sachs Group by 13.6% during the 1st quarter. Amundi now owns 1,891,260 shares of the investment management company's stock valued at $967,193,000 after acquiring an additional 225,993 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the 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 of the company's stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Citigroup boosted their price target 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, HSBC reissued a "reduce" rating and issued a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $660.00.

The Goldman Sachs Group Stock Performance

GS traded up $6.03 during mid-day trading on Wednesday, reaching $769.95. 1,996,070 shares of the company traded hands, compared to its average volume of 1,578,995. The stock has a market capitalization of $233.08 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.60 and a beta of 1.41. 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 company's fifty day moving average price is $726.53 and its 200-day moving average price is $629.25. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $774.47.

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, topping the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion during 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 Goldman Sachs Group's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $8.62 EPS. On average, sell-side 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 issued a $4.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend and a yield of 2.1%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is currently 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.