Prosperity Consulting Group LLC Has $771,000 Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Prosperity Consulting Group LLC has increased its stake in The Goldman Sachs Group by 38.0%, owning 1,412 shares valued at $771,000 as reported in their recent filing.
• The company recently reported a quarterly earnings per share (EPS) of $10.91, surpassing estimates, with revenue of $14.58 billion, indicating a 14.5% year-over-year growth.
• The Goldman Sachs Group announced an increase in its quarterly dividend to $4.00 per share, reflecting a positive change from the previous $3.00 dividend.

Prosperity Consulting Group LLC increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 38.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,412 shares of the investment management company's stock after acquiring an additional 389 shares during the period. Prosperity Consulting Group LLC's holdings in The Goldman Sachs Group were worth $771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GS. Brighton Jones LLC boosted its position in The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after purchasing an additional 508 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after purchasing an additional 58 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in The Goldman Sachs Group during the fourth quarter worth $583,000. Highview Capital Management LLC DE boosted its position in The Goldman Sachs Group by 4.7% during the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock worth $2,186,000 after purchasing an additional 171 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in The Goldman Sachs Group by 62.2% during the fourth quarter. Wellington Management Group LLP now owns 231,437 shares of the investment management company's stock worth $132,525,000 after purchasing an additional 88,749 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GS. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. HSBC restated a "reduce" rating and issued a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company upped 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. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Down 2.0%

NYSE GS traded down $14.19 during mid-day trading on Friday, reaching $709.40. 2,997,787 shares of the company's stock traded hands, compared to its average volume of 2,015,611. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $737.88. The company has a fifty day simple moving average of $667.61 and a 200-day simple moving average of $609.90. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26. The company has a market cap of $217.67 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 1.54 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating 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 firm had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm earned $8.62 EPS. The Goldman Sachs Group's quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm 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 dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 26.44%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president owned 65,761 shares of the company's stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction 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 transaction, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,079 shares of company stock valued at $14,423,221 in the last quarter. Corporate insiders own 0.55% of the company's stock.

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.