IPG Investment Advisors LLC Increases Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• IPG Investment Advisors LLC increased its holdings in The Goldman Sachs Group by 75.9% during the first quarter, totaling 4,750 shares valued at approximately $2.6 million.
• Multiple institutional investors have adjusted their positions, with ING Groep NV raising its stake by 11.2% to 15,484 shares worth over $8.4 million.
• The Goldman Sachs Group recently announced a raise in its quarterly dividend from $3.00 to $4.00 per share, representing an annual yield of 2.3%.

IPG Investment Advisors LLC increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 75.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,750 shares of the investment management company's stock after acquiring an additional 2,050 shares during the period. IPG Investment Advisors LLC's holdings in The Goldman Sachs Group were worth $2,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $31,000. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $29,000. Transce3nd LLC purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $31,000. Godsey & Gibb Inc. grew 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 buying an additional 34 shares during the last quarter. Finally, Lowe Wealth Advisors LLC grew 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 buying an additional 49 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 0.7%

Shares of NYSE:GS traded down $4.86 during trading hours on Tuesday, hitting $721.17. 1,976,389 shares of the company's stock traded hands, compared to its average volume of 2,110,067. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $737.88. The business has a fifty day moving average price of $674.47 and a 200-day moving average price of $612.33. The firm has a market capitalization of $218.31 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.54 and a beta of 1.38. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.68.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the firm posted $8.62 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. Equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share 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. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is presently 26.44%.

Insider Activity

In other news, CEO David M. Solomon sold 6,608 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 $712.31, for a total transaction of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,079 shares of company stock valued at $14,423,221. Corporate insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Wells Fargo & Company increased their target price on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Morgan Stanley raised their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Citigroup raised 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, Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.