Atlas Legacy Advisors LLC Buys 407 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Atlas Legacy Advisors LLC increased its stake in The Goldman Sachs Group by 65.4%, owning a total of 1,029 shares worth approximately $562,000 as of the latest filing.
• The Goldman Sachs Group reported a quarterly earnings per share of $10.91, exceeding forecasts, with revenue of $14.58 billion, a 14.5% increase from the previous year.
• The firm announced an increase in its quarterly dividend to $4.00 per share, payable on September 29th, marking a positive change from the previous $3.00 dividend.

Atlas Legacy Advisors LLC increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 65.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,029 shares of the investment management company's stock after purchasing an additional 407 shares during the quarter. Atlas Legacy Advisors LLC's holdings in The Goldman Sachs Group were worth $562,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Wynn Capital LLC lifted its holdings in shares of The Goldman Sachs Group by 0.3% during the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock valued at $3,211,000 after acquiring an additional 20 shares in the last quarter. 1900 Wealth Management LLC raised its position in The Goldman Sachs Group by 2.6% in the first quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock valued at $425,000 after purchasing an additional 20 shares during the period. World Equity Group Inc. grew its stake in shares of The Goldman Sachs Group by 0.9% in the first quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock valued at $1,273,000 after buying an additional 20 shares in the last quarter. Register Financial Advisors LLC grew its stake in shares of The Goldman Sachs Group by 2.5% in the first quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock valued at $440,000 after buying an additional 20 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of The Goldman Sachs Group by 6.7% during the first quarter. Continuum Advisory LLC now owns 318 shares of the investment management company's stock worth $174,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GS shares. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Evercore ISI set a $715.00 price target on The Goldman Sachs Group and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Morgan Stanley upped their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods lifted their price target on shares of 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. Finally, Daiwa America cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average price target of $660.00.

Insider Buying and Selling

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction that occurred 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 owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock valued at $14,423,221 over the last three months. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded down $7.00 during trading hours on Thursday, hitting $723.75. 1,187,671 shares of the company's stock were exchanged, compared to its average volume of 2,614,990. The company's 50-day moving average price is $665.10 and its 200-day moving average price is $608.80. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $737.88. The stock has a market capitalization of $222.07 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 1.55 and a beta of 1.35. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.84% and a net margin of 12.37%. The company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the prior year, the business earned $8.62 earnings per share. The Goldman Sachs Group's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. 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 2.21%. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is currently 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.