The Goldman Sachs Group, Inc. (NYSE:GS) Shares Acquired by W.H. Cornerstone Investments Inc.

Key Points

• W.H. Cornerstone Investments Inc. increased its holdings in The Goldman Sachs Group by 39.0%, owning 2,129 shares valued at approximately $1,163,000 as of the latest SEC filing.
• The Goldman Sachs Group reported an earnings per share (EPS) of $10.91 for the last quarter, exceeding analysts' estimates of $9.82, alongside a revenue of $14.58 billion, marking a 14.5% increase year-over-year.
• The company announced a quarterly dividend increase to $4.00 per share, up from the previous $3.00, with a subsequent payout ratio of 26.44% and a dividend yield of 2.3%.

W.H. Cornerstone Investments Inc. lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 39.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,129 shares of the investment management company's stock after purchasing an additional 597 shares during the quarter. W.H. Cornerstone Investments Inc.'s holdings in The Goldman Sachs Group were worth $1,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth approximately $31,000. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Transce3nd LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth approximately $31,000. Godsey & Gibb Inc. grew its stake in shares of 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 purchasing an additional 34 shares during the period. Finally, Lowe Wealth Advisors LLC grew its stake in shares of 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 purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 2.0%

Shares of GS stock opened at $709.40 on Monday. The stock's fifty day moving average is $669.82 and its two-hundred day moving average is $610.88. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12. The firm has a market capitalization of $217.67 billion, a P/E ratio of 15.63, a PEG ratio of 1.51 and a beta of 1.38. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $737.88.

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 (EPS) for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the company earned $8.62 EPS. The company's revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts expect 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 business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $4.00 dividend. This is a boost 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 dividend yield of 2.3%. The Goldman Sachs Group's dividend payout ratio is 26.44%.

Analyst Upgrades and Downgrades

GS has been the topic of a number of recent analyst reports. HSBC reiterated a "reduce" rating and set a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Morgan Stanley increased their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Barclays decreased their target price on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods increased their target price 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 research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $660.00.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 126,176 shares of the company's stock, valued at $89,876,426.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction on 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 sale, the chief financial officer directly owned 18,594 shares of the company's stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,079 shares of company stock valued at $14,423,221 in the last three months. 0.55% of the stock is currently owned by 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.

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