Talon Private Wealth LLC Boosts Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Talon Private Wealth LLC significantly increased its stake in The Goldman Sachs Group by 5,113.6%, acquiring an additional 3,375 shares, bringing its total holdings to 3,441 shares valued at approximately $1.9 million.
• Recent broker upgrades have improved perceptions of Goldman Sachs, with Zacks Research upgrading it from a "hold" to a "strong-buy" rating, and the stock currently has a consensus rating of "Hold" with a price target of $660.
• The Goldman Sachs Group not only surpassed analysts' earnings estimates for the quarter with $10.91 EPS but also increased its dividend by $1.00 to a total of $4.00 per share, reflecting a growing commitment to returning value to shareholders.

Talon Private Wealth LLC increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5,113.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,441 shares of the investment management company's stock after buying an additional 3,375 shares during the quarter. Talon Private Wealth LLC's holdings in The Goldman Sachs Group were worth $1,911,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted 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 worth $2,172,423,000 after acquiring an additional 3,970,467 shares during the period. Northern Trust Corp increased its holdings in shares of The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after purchasing an additional 40,125 shares during the period. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth about $1,766,238,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of The Goldman Sachs Group by 15.0% in the fourth 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 worth $1,124,532,000 after purchasing an additional 256,204 shares during the last quarter. Finally, Amundi lifted its holdings in shares of The Goldman Sachs Group by 13.6% during the first quarter. Amundi now owns 1,891,260 shares of the investment management company's stock worth $967,193,000 after purchasing an additional 225,993 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on GS. Zacks Research upgraded shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, JMP Securities restated a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $660.00.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $739.11 on Friday. 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 firm has a market cap of $223.75 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.57 and a beta of 1.41. The company has a 50 day moving average price of $723.63 and a 200-day moving average price of $626.63. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $757.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (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 quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.62 earnings per share. 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 firm also recently declared 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. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Insiders Place Their Bets

In other news, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was 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 directly owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

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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