The Goldman Sachs Group, Inc. $GS Shares Purchased by CX Institutional

Key Points

• CX Institutional has increased its stake in The Goldman Sachs Group by 11.9%, now owning 4,458 shares valued at approximately $3.15 million.
• Recent analyst ratings showed five analysts giving a Buy rating while Zacks downgraded the stock from "strong-buy" to "hold"; the consensus rating is currently "Hold" with a target price of $665.00.
• The Goldman Sachs Group reported a strong quarterly earnings performance with $10.91 EPS, exceeding estimates and marking a 14.5% increase in revenue year-over-year.

CX Institutional raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 11.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,458 shares of the investment management company's stock after buying an additional 473 shares during the quarter. CX Institutional's holdings in The Goldman Sachs Group were worth $3,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG raised its stake in The Goldman Sachs Group by 151.7% during the second quarter. Bank Pictet & Cie Europe AG now owns 3,562 shares of the investment management company's stock valued at $2,521,000 after buying an additional 2,147 shares in the last quarter. Morangie Management LLC raised its stake in The Goldman Sachs Group by 31.7% during the second quarter. Morangie Management LLC now owns 7,180 shares of the investment management company's stock valued at $5,082,000 after buying an additional 1,729 shares in the last quarter. Essex Financial Services Inc. raised its stake in The Goldman Sachs Group by 6.5% during the second quarter. Essex Financial Services Inc. now owns 4,670 shares of the investment management company's stock valued at $3,305,000 after buying an additional 285 shares in the last quarter. Dakota Wealth Management raised its stake in The Goldman Sachs Group by 2.9% during the second quarter. Dakota Wealth Management now owns 16,310 shares of the investment management company's stock valued at $11,543,000 after buying an additional 456 shares in the last quarter. Finally, Magnus Financial Group LLC raised its stake in The Goldman Sachs Group by 5.4% during the second quarter. Magnus Financial Group LLC now owns 4,156 shares of the investment management company's stock valued at $2,941,000 after buying an additional 213 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Ratings Changes

GS has been the topic of several research reports. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Wells Fargo & Company upped their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, HSBC reaffirmed a "reduce" rating and set a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus target price of $665.00.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $794.75 on Friday. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25. The firm has a market capitalization of $240.59 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41. The business has a 50 day simple moving average of $745.43 and a 200 day simple moving average of $644.54. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the company posted $8.62 EPS. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $4.00 dividend. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the sale, the chief operating officer owned 115,268 shares of the company's stock, valued at $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by corporate insiders.

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.