The Goldman Sachs Group, Inc. (NYSE:GS) Shares Purchased by Thoroughbred Financial Services LLC

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 increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,600 shares of the investment management company's stock after purchasing an additional 401 shares during the quarter. Thoroughbred Financial Services LLC's holdings in The Goldman Sachs Group were worth $4,151,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Capital Advisory LLC acquired a new position in shares of The Goldman Sachs Group in the first quarter worth $29,000. Godsey & Gibb Inc. raised its holdings in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Transce3nd LLC acquired a new position in shares of The Goldman Sachs Group in the fourth quarter worth $31,000. Mascagni Wealth Management Inc. acquired a new position in shares of The Goldman Sachs Group in the fourth quarter worth $31,000. Finally, Lowe Wealth Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 326.7% in the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after acquiring an additional 49 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 126,176 shares in the company, 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 can be accessed through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,079 shares of company stock worth $14,423,221. 0.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GS shares. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. HSBC reaffirmed a "reduce" rating and issued a $627.00 price objective (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $660.00.

The Goldman Sachs Group Stock Up 0.3%

Shares of NYSE GS traded up $2.02 on Friday, hitting $721.76. The company had a trading volume of 1,275,362 shares, compared to its average volume of 2,022,910. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $737.88. The business has a 50 day moving average of $681.52 and a two-hundred day moving average of $614.35. 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 firm has a market capitalization of $218.49 billion, a P/E ratio of 15.90, a PEG ratio of 1.53 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the business earned $8.62 earnings per share. The company's revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share 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 paid a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. This is a positive change 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 presently 26.44%.

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.