KMG Fiduciary Partners LLC Buys 4,881 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• KMG Fiduciary Partners LLC increased its holdings in The Goldman Sachs Group, Inc. by 19.1% during the second quarter, now owning 30,384 shares worth approximately $21.5 million.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00, an increase from the previous $3.00, resulting in a yield of 2.0%.
• In recent analysts' ratings, Goldman Sachs received upgrades, with Wells Fargo lifting the price target from $785 to $855 and Zacks upgrading it to a strong-buy rating.

KMG Fiduciary Partners LLC boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 19.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,384 shares of the investment management company's stock after purchasing an additional 4,881 shares during the period. The Goldman Sachs Group comprises approximately 1.6% of KMG Fiduciary Partners LLC's portfolio, making the stock its 11th biggest holding. KMG Fiduciary Partners LLC's holdings in The Goldman Sachs Group were worth $21,505,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GS. Brighton Jones LLC lifted its stake in The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after purchasing an additional 508 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after purchasing an additional 58 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $583,000. Highview Capital Management LLC DE lifted its stake in The Goldman Sachs Group by 4.7% in the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock valued at $2,186,000 after purchasing an additional 171 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in The Goldman Sachs Group by 4.5% in the fourth quarter. Two Sigma Investments LP now owns 6,513 shares of the investment management company's stock valued at $3,729,000 after purchasing an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Insider Buying and Selling

In other news, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 over the last three months. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Morgan Stanley increased their target price 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. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. 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. Finally, Zacks Research downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $665.00.

The Goldman Sachs Group Price Performance

GS traded up $0.20 during trading on Monday, reaching $805.20. The stock had a trading volume of 1,150,956 shares, compared to its average volume of 1,696,610. The stock has a market cap of $243.75 billion, a PE 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 business has a 50-day moving average of $739.87 and a 200-day moving average of $640.52.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results 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 business had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm's revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.62 earnings per share. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced 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. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is currently 35.26%.

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.