The Goldman Sachs Group, Inc. $GS Shares Acquired by Deltec Asset Management LLC

Key Points

• Deltec Asset Management LLC increased its holdings in The Goldman Sachs Group by 90% in the second quarter, now owning 1,900 shares valued at approximately $1.3 million.
• Multiple analysts have revised their price targets for Goldman Sachs shares, with targets now ranging up to $855, indicating a strong interest among institutional investors and hedge funds.
• The company recently raised its quarterly dividend from $3.00 to $4.00, reflecting an annualized dividend yield of 2.0%.

Deltec Asset Management LLC raised its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 90.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,900 shares of the investment management company's stock after purchasing an additional 900 shares during the period. Deltec Asset Management LLC's holdings in The Goldman Sachs Group were worth $1,345,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC lifted its position 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 worth $38,000 after buying an additional 17 shares during the last quarter. Bank of Stockton lifted its position in shares of The Goldman Sachs Group by 0.7% during the 2nd quarter. Bank of Stockton now owns 2,485 shares of the investment management company's stock worth $1,759,000 after purchasing an additional 17 shares during the last quarter. Western Financial Corp CA boosted its stake in The Goldman Sachs Group by 0.5% during the 2nd quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company's stock valued at $2,546,000 after purchasing an additional 17 shares during the period. King Wealth Management Group grew its holdings in The Goldman Sachs Group by 1.8% in the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock valued at $593,000 after buying an additional 19 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC increased its position in The Goldman Sachs Group by 0.9% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company's stock worth $1,104,000 after buying an additional 19 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GS shares. JMP Securities reissued a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. HSBC reissued a "reduce" rating and issued a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group 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 company a "neutral" rating in a research note on Monday, July 21st. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Finally, Evercore ISI boosted their price target on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an "outperform" rating in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $690.27.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $796.20 on Wednesday. The firm has a fifty day moving average of $751.18 and a two-hundred day moving average of $650.88. The stock has a market capitalization of $241.02 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.67 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. 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 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, beating analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the prior year, the company earned $8.62 EPS. The firm's quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a $4.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Insider Activity

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 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 owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. 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. Corporate insiders own 0.55% of the company's stock.

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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