The Goldman Sachs Group, Inc. $GS Shares Bought by Stonebridge Capital Management Inc.

Key Points

• Stonebridge Capital Management Inc. increased its stake in The Goldman Sachs Group, Inc. by 75%, now owning 2,100 shares valued at approximately $1.49 million.
• The Goldman Sachs Group recently reported earnings of $10.91 per share for the last quarter, exceeding analysts' expectations and marking a 14.5% increase in revenue year-over-year.
• The company declared a quarterly dividend increase to $4.00 per share, up from the previous $3.00, providing a current dividend yield of 2.0%.

Stonebridge Capital Management Inc. lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 75.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,100 shares of the investment management company's stock after acquiring an additional 900 shares during the period. Stonebridge Capital Management Inc.'s holdings in The Goldman Sachs Group were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $25,000. Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $31,000. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $29,000. Godsey & Gibb Inc. lifted its stake in shares of The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the period. Finally, Lowe Wealth Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 326.7% in the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after acquiring an additional 49 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Down 0.5%

GS stock opened at $780.87 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $793.17. The company's 50 day simple moving average is $728.85 and its 200-day simple moving average is $631.49. 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 market capitalization of $236.39 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.65 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business earned $8.62 earnings per share. The firm's revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company 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 dividend of $4.00 per share. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Insider Activity

In other news, EVP John F.W. Rogers sold 6,008 shares of the business's 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 sale, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John E. Waldron sold 9,000 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the transaction, the chief operating officer owned 106,268 shares in the company, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of research analyst reports. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Citigroup increased their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. HSBC reissued a "reduce" rating and set a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods increased their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Finally, Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus target price of $660.00.

The Goldman Sachs Group 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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