Turn8 Private Wealth Inc. Has $3.38 Million Position in The Goldman Sachs Group, Inc. $GS

Turn8 Private Wealth Inc. increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,179 shares of the investment management company’s stock after purchasing an additional 148 shares during the period. The Goldman Sachs Group makes up 2.6% of Turn8 Private Wealth Inc.’s portfolio, making the stock its 13th biggest position. Turn8 Private Wealth Inc.’s holdings in The Goldman Sachs Group were worth $3,376,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in The Goldman Sachs Group by 17.1% in the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock valued at $1,989,000 after buying an additional 508 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of 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 valued at $508,000 after acquiring an additional 58 shares during the period. Bank Pictet & Cie Europe AG bought a new position in shares of The Goldman Sachs Group during the fourth quarter valued at $583,000. Highview Capital Management LLC DE boosted its stake in shares of The Goldman Sachs Group by 4.7% in the 4th quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company’s stock valued at $2,186,000 after purchasing an additional 171 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 1.6% in the 4th quarter. Gotham Asset Management LLC now owns 8,306 shares of the investment management company’s stock worth $4,756,000 after purchasing an additional 127 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on GS. HSBC reissued a “reduce” rating and set a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Hsbc Global Res cut shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their price target on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Citizens Jmp reaffirmed a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus price target of $660.00.

Insider Buying and Selling at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,244 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Up 0.8%

NYSE:GS opened at $769.95 on Thursday. The company has a market cap of $233.08 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.60 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s fifty day moving average price is $726.53 and its two-hundred day moving average price is $629.25. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $774.47.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share 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 during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the company posted $8.62 earnings per share. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend and a yield of 2.1%. 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 35.26%.

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.