The Goldman Sachs Group, Inc. $GS Shares Bought by Xcel Wealth Management LLC

Key Points

• Xcel Wealth Management LLC increased its holdings in The Goldman Sachs Group by 36.9%, now owning 2,533 shares valued at approximately $1,793,000.
• The company reported earnings of $10.91 per share for the last quarter, exceeding estimates by $1.09, with revenue increasing by 14.5% year-over-year.
• Goldman Sachs announced a quarterly dividend increase to $4.00 per share, reflecting a 2.0% dividend yield based on an annual payout of $16.00.

Xcel Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 36.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,533 shares of the investment management company's stock after purchasing an additional 683 shares during the quarter. Xcel Wealth Management LLC's holdings in The Goldman Sachs Group were worth $1,793,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC boosted its position in The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock valued at $20,566,005,000 after buying an additional 29,053,586 shares during the period. GAMMA Investing LLC increased its position in shares of The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after acquiring an additional 3,970,467 shares during the period. Northern Trust Corp raised its stake in shares of The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after acquiring an additional 40,125 shares in the last quarter. International Assets Investment Management LLC purchased a new position in The Goldman Sachs Group in the first quarter valued at $1,766,238,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in The Goldman Sachs Group by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock valued at $1,138,527,000 after purchasing an additional 120,272 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Down 1.6%

GS opened at $793.50 on Thursday. The business's 50-day simple moving average is $743.66 and its 200-day simple moving average is $642.72. 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 $825.25. The stock has a market capitalization of $240.21 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

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 (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion during 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 business's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $8.62 EPS. Analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. 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 payout ratio is 35.26%.

Insider Buying and Selling at The Goldman Sachs Group

In related 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 value of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the sale, the chief operating officer owned 115,268 shares of the company's stock, valued at approximately $86,463,679.48. This represents a 7.42% 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. Insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GS. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. 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 note on Monday, July 21st. JMP Securities reiterated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Zacks Research lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and an average target price of $665.00.

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.

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