The Goldman Sachs Group, Inc. $GS Shares Acquired by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its stake in The Goldman Sachs Group by 38.7% during the 2nd quarter, owning 2,574 shares valued at approximately $1.82 million.
• The company reported a Q2 EPS of $10.91, exceeding analysts' estimates of $9.82, and had a revenue of $14.58 billion, which is a 14.5% year-over-year increase.
• The Goldman Sachs Group announced a dividend increase to $4.00 per share, representing an annual yield of 2.0%, up from the previous $3.00.

Farther Finance Advisors LLC grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 38.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,574 shares of the investment management company's stock after buying an additional 718 shares during the period. Farther Finance Advisors LLC's holdings in The Goldman Sachs Group were worth $1,822,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at $25,000. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth $29,000. Godsey & Gibb Inc. boosted its stake in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in The Goldman Sachs Group during the 4th quarter worth $31,000. Finally, Lowe Wealth Advisors LLC boosted its stake in The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Up 0.0%

Shares of The Goldman Sachs Group stock opened at $805.20 on Tuesday. The company has a market cap of $243.75 billion, a P/E ratio of 17.74, a PEG ratio of 1.68 and a beta of 1.41. 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, Inc. has a one year low of $439.38 and a one year high of $809.66. The firm has a fifty day moving average of $739.87 and a two-hundred day moving average of $640.52.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced 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 company had revenue of $14.58 billion during 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 Goldman Sachs Group's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.62 EPS. On average, analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $4.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is 35.26%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GS. Zacks Research cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Keefe, Bruyette & Woods increased 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. Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. 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. Finally, Morgan Stanley increased their price target on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $665.00.

Insider Activity at The Goldman Sachs Group

In other news, 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 value of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were 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 of the company's stock, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Company 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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