Kingstone Capital Partners Texas LLC Purchases 29,053,586 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Kingstone Capital Partners Texas LLC dramatically increased its stake in The Goldman Sachs Group by 617,504.5% in Q2, owning over 29 million shares, making it one of its largest holdings.
• The Goldman Sachs Group recently reported $10.91 earnings per share for the quarter, surpassing expectations of $9.82 and demonstrating a 14.5% year-over-year revenue growth.
• The company declared a quarterly dividend of $4.00 per share, up from the previous $3.00, representing an annualized yield of 2.0%.

Kingstone Capital Partners Texas LLC boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 617,504.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,058,291 shares of the investment management company's stock after buying an additional 29,053,586 shares during the quarter. The Goldman Sachs Group makes up approximately 2.8% of Kingstone Capital Partners Texas LLC's investment portfolio, making the stock its 13th largest position. Kingstone Capital Partners Texas LLC owned approximately 9.47% of The Goldman Sachs Group worth $20,566,005,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC increased its position in The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after buying an additional 3,970,467 shares during the last quarter. Northern Trust Corp grew its position in The Goldman Sachs Group by 1.2% during the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock worth $1,820,677,000 after buying an additional 40,125 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in The Goldman Sachs Group during the first quarter worth approximately $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in The Goldman Sachs Group by 6.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock worth $1,138,527,000 after buying an additional 120,272 shares in the last quarter. Finally, Amundi grew its position in 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 buying an additional 225,993 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 in the last quarter. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Stock Up 0.0%

Shares of GS traded up $0.14 during trading hours on Friday, hitting $804.45. The stock had a trading volume of 3,788,014 shares, compared to its average volume of 1,604,564. 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 50 day simple moving average of $738.03 and a 200-day simple moving average of $638.30. The firm has a market capitalization of $243.52 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $809.66.

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 for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter last year, the firm earned $8.62 EPS. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal 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 given a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change 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

GS has been the topic of a number of analyst reports. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Hsbc Global Res downgraded The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Evercore ISI set a $715.00 price target on The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Morgan Stanley increased their price target on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $665.00.

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.