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

Key Points

• Global Trust Asset Management LLC increased its stake in The Goldman Sachs Group by 27.6% during Q2, now holding approximately 1% of its investment portfolio in the firm.
• The Goldman Sachs Group reported earnings per share of $10.91, surpassing expectations of $9.82, with revenues reaching $14.58 billion, up 14.5% year-over-year.
• The company announced a quarterly dividend increase to $4.00 per share, marking a new annualized rate of $16.00 and a yield of 2.0%.

Global Trust Asset Management LLC grew its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 27.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,595 shares of the investment management company's stock after acquiring an additional 562 shares during the period. The Goldman Sachs Group comprises approximately 1.0% of Global Trust Asset Management LLC's investment portfolio, making the stock its 19th biggest position. Global Trust Asset Management LLC's holdings in The Goldman Sachs Group were worth $1,837,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Independence Bank of Kentucky raised its position in shares of The Goldman Sachs Group by 2.0% in the second quarter. Independence Bank of Kentucky now owns 2,307 shares of the investment management company's stock worth $1,633,000 after acquiring an additional 45 shares during the period. Moody Lynn & Lieberson LLC raised its position in shares of The Goldman Sachs Group by 7.5% in the second quarter. Moody Lynn & Lieberson LLC now owns 8,047 shares of the investment management company's stock worth $5,695,000 after acquiring an additional 561 shares during the period. City Holding Co. raised its position in shares of The Goldman Sachs Group by 40.7% during the 2nd quarter. City Holding Co. now owns 615 shares of the investment management company's stock worth $435,000 after purchasing an additional 178 shares during the last quarter. Tritonpoint Wealth LLC raised its position in shares of The Goldman Sachs Group by 6.5% during the 2nd quarter. Tritonpoint Wealth LLC now owns 2,533 shares of the investment management company's stock worth $1,793,000 after purchasing an additional 154 shares during the last quarter. Finally, Coastline Trust Co raised its position in shares of The Goldman Sachs Group by 5.3% during the 2nd quarter. Coastline Trust Co now owns 1,899 shares of the investment management company's stock worth $1,344,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $802.91 on Monday. The firm has a 50 day simple moving average of $747.32 and a 200-day simple moving average of $648.04. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25. 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 stock has a market cap of $243.06 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41.

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 earnings per share for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $8.62 EPS. On average, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. 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 35.26%.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was 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. The trade was 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. Company insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

GS has been the subject of several research analyst reports. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research report 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 report on Saturday, July 12th. 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. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Finally, Wells Fargo & Company upped their price objective on shares of 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. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus price target of $665.00.

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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