The Goldman Sachs Group, Inc. $GS Shares Bought by Joel Isaacson & Co. LLC

Key Points

• Joel Isaacson & Co. LLC increased its stake in The Goldman Sachs Group by 3.8%, owning 9,533 shares valued at $6,747,000 after acquiring an additional 351 shares.
• The Goldman Sachs Group reported a Q2 earnings per share of $10.91, exceeding analyst expectations of $9.82 and generating $14.58 billion in revenue, a 14.5% year-over-year increase.
• The company announced a quarterly dividend increase to $4.00, representing a 2.0% yield, up from the previous dividend of $3.00.

Joel Isaacson & Co. LLC lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,533 shares of the investment management company's stock after acquiring an additional 351 shares during the period. Joel Isaacson & Co. LLC's holdings in The Goldman Sachs Group were worth $6,747,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its holdings in shares of The Goldman Sachs Group by 28.6% during the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock valued at $286,418,000 after buying an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC acquired a new position in shares of The Goldman Sachs Group during the first quarter valued at $321,000. Blueshift Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 161.8% during the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after purchasing an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. lifted its holdings in The Goldman Sachs Group by 41.5% in the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock worth $27,205,000 after purchasing an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter valued at about $1,643,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

GS stock opened at $796.13 on Tuesday. The firm has a 50 day simple moving average of $756.50 and a 200 day simple moving average of $657.99. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The stock has a market cap of $241.00 billion, a P/E ratio of 17.54, a P/E/G ratio of 1.64 and a beta of 1.42. 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 (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS 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 period in the previous year, the company posted $8.62 EPS. The Goldman Sachs Group's revenue was up 14.5% on a year-over-year basis. Research analysts anticipate 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 company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were 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 was Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is currently 35.26%.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their price objective on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 1st. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Wells Fargo & Company lifted their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Finally, Citigroup upped their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $717.00.

Insider Transactions at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John E. Waldron sold 9,000 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares of the company's stock, valued at $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock valued at $28,111,828 over the last 90 days. Company insiders own 0.55% of the company's stock.

About The Goldman Sachs Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.