Thoroughbred Financial Services LLC Grows Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Thoroughbred Financial Services LLC increased its stake in The Goldman Sachs Group by 5.6% during Q1, holding 7,600 shares valued at approximately $4.15 million.
• Goldman Sachs reported a Q2 earnings per share (EPS) of $10.91, exceeding analyst estimates of $9.82, with revenue rising to $14.58 billion.
• The company declared a quarterly dividend of $4.00 per share, increasing from the previous $3.00, reflecting a dividend yield of 2.2%.

Thoroughbred Financial Services LLC raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,600 shares of the investment management company's stock after buying an additional 401 shares during the quarter. Thoroughbred Financial Services LLC's holdings in The Goldman Sachs Group were worth $4,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GS. Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group during the fourth quarter valued at $31,000. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group during the first quarter valued at $29,000. Transce3nd LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter valued at $31,000. Godsey & Gibb Inc. increased its holdings in shares of The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after acquiring an additional 34 shares in the last quarter. Finally, Lowe Wealth Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on GS. Hsbc Global Res downgraded The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. JMP Securities reiterated a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Citigroup lifted their price objective 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, Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Price Performance

NYSE GS traded down $4.41 during trading hours on Thursday, reaching $720.33. The company's stock had a trading volume of 1,399,575 shares, compared to its average volume of 2,039,580. The firm's 50-day moving average price is $679.08 and its 200-day moving average price is $613.75. The company has a quick ratio of 0.68, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $737.88. The company has a market capitalization of $218.06 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.54 and a beta of 1.38.

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 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 company had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the previous year, the firm earned $8.62 EPS. The firm's revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm 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. 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 2.2%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is presently 26.44%.

Insider Buying and Selling

In other The Goldman Sachs Group 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 stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 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 approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,079 shares of company stock valued at $14,423,221. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Company 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.