The Goldman Sachs Group, Inc. $GS Shares Bought by Cadence Bank

Key Points

• Cadence Bank boosted its stake in The Goldman Sachs Group by 148.8% in the first quarter, now owning 3,414 shares worth $1,865,000.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00, marking an increase from $3.00, with an upcoming ex-dividend date on August 29th.
• Several analysts have raised their price targets on GS shares, with Wells Fargo increasing theirs from $650.00 to $785.00, indicating strong market confidence in the stock's growth potential.

Cadence Bank increased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 148.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,414 shares of the investment management company's stock after purchasing an additional 2,042 shares during the period. Cadence Bank's holdings in The Goldman Sachs Group were worth $1,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GS. Clal Insurance Enterprises Holdings Ltd bought a new position in The Goldman Sachs Group in the first quarter worth about $25,000. American Capital Advisory LLC acquired a new position in shares of The Goldman Sachs Group during the first quarter valued at approximately $29,000. Godsey & Gibb Inc. increased its stake in shares of The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after acquiring an additional 34 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $31,000. Finally, Lowe Wealth Advisors LLC increased its stake in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after acquiring an additional 49 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GS has been the topic of several recent research reports. Citigroup lifted their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. 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. JMP Securities reiterated a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus price target of $660.00.

Insider Activity

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction on 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 sale, the chief executive officer directly owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,079 shares of company stock worth $14,423,221 over the last quarter. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Trading Up 3.6%

Shares of GS stock opened at $741.8440 on Friday. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $749.05. The company has a market capitalization of $224.57 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.52 and a beta of 1.38. The firm has a 50-day moving average price of $705.56 and a 200 day moving average price of $620.87. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results 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 Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the firm posted $8.62 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. Research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal 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. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend 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.

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