The Goldman Sachs Group, Inc. $GS Shares Purchased by Synovus Financial Corp

Key Points

• Synovus Financial Corp increased its stake in The Goldman Sachs Group by 9.6% in Q1, bringing its total holdings to 18,690 shares valued at $10,208,000.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00 per share, an increase from its previous dividend of $3.00, representing a 2.2% yield.
• In its latest earnings report, The Goldman Sachs Group posted $10.91 earnings per share, exceeding expectations and indicating a revenue growth of 14.5% year-over-year.

Synovus Financial Corp raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,690 shares of the investment management company's stock after purchasing an additional 1,643 shares during the quarter. Synovus Financial Corp's holdings in The Goldman Sachs Group were worth $10,208,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group during the 1st quarter valued at approximately $25,000. Mascagni Wealth Management Inc. bought a new position in The Goldman Sachs Group during the 4th quarter worth approximately $31,000. American Capital Advisory LLC bought a new position in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Godsey & Gibb Inc. lifted its holdings in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after buying an additional 34 shares during the last quarter. Finally, Lowe Wealth Advisors LLC lifted its holdings in The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Trading Up 3.6%

Shares of NYSE GS opened at $741.8440 on Friday. The company has a market cap of $224.57 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.58 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $749.05. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The stock's 50 day simple moving average is $705.56 and its 200 day simple moving average is $620.70.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The business 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 business's revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $8.62 EPS. 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 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 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group's dividend payout ratio (DPR) is 26.44%.

Analyst Upgrades and Downgrades

GS has been the topic of a number of research analyst reports. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Citigroup increased their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $660.00.

Insider Buying and Selling 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 on Wednesday, July 23rd. The stock was 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 of the company's stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group 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 sale, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,079 shares of company stock valued at $14,423,221 in the last quarter. Corporate 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.

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