The Goldman Sachs Group, Inc. $GS Shares Bought by Mainstay Capital Management LLC ADV

Key Points

• Mainstay Capital Management LLC ADV increased its stake in The Goldman Sachs Group by 99.9% during Q2, owning 6,613 shares valued at $4.68 million after acquiring 3,305 additional shares.
• Insider transactions revealed that EVP John F.W. Rogers and CFO Denis P. Coleman sold a combined 13,471 shares of the company, reducing their ownership significantly.
• Goldman Sachs recently declared a quarterly dividend of $4.00, up from the prior quarterly dividend of $3.00, representing an annualized yield of 2.1%.

Mainstay Capital Management LLC ADV lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 99.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,613 shares of the investment management company's stock after purchasing an additional 3,305 shares during the period. Mainstay Capital Management LLC ADV's holdings in The Goldman Sachs Group were worth $4,680,000 at the end of the most recent reporting period.

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

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group 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 transaction, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the 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 completion of the sale, 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 quarter, insiders sold 38,323 shares of company stock valued at $28,111,828. Corporate insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GS. Weiss Ratings reissued a "hold (c+)" rating on shares of The Goldman Sachs Group in a report on Wednesday. HSBC raised their price target on The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Citigroup upped 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 note on Monday, July 21st. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a "hold" rating in a research note on Tuesday, September 30th. 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 stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $727.31.

The Goldman Sachs Group Price Performance

GS stock opened at $777.49 on Thursday. The stock has a market capitalization of $235.36 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.49 and a beta of 1.42. 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, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The stock's fifty day simple moving average is $758.55 and its 200-day simple moving average is $659.72.

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 earnings per share for the quarter, topping the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business posted $8.62 earnings per share. Equities research 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 declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $4.00 dividend. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The Goldman Sachs Group's dividend payout ratio (DPR) is 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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