The Goldman Sachs Group, Inc. $GS Shares Bought by Forte Capital LLC ADV

Forte Capital LLC ADV lifted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.3% during the 2nd quarter, Holdings Channel reports. The firm owned 938 shares of the investment management company’s stock after buying an additional 72 shares during the period. Forte Capital LLC ADV’s holdings in The Goldman Sachs Group were worth $664,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GS. Eaton Financial Holdings Company LLC acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $303,000. Boyd Wealth Management LLC acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at $308,000. Focused Wealth Management Inc raised its stake in shares of The Goldman Sachs Group by 5.1% in the second quarter. Focused Wealth Management Inc now owns 5,273 shares of the investment management company’s stock valued at $3,732,000 after acquiring an additional 258 shares in the last quarter. Bank of Stockton boosted its holdings in The Goldman Sachs Group by 0.7% in the second quarter. Bank of Stockton now owns 2,485 shares of the investment management company’s stock valued at $1,759,000 after purchasing an additional 17 shares during the period. Finally, GSB Wealth Management LLC grew its stake in The Goldman Sachs Group by 8.0% during the 2nd quarter. GSB Wealth Management LLC now owns 418 shares of the investment management company’s stock worth $296,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GS. JMP Securities reiterated a “market perform” rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Keefe, Bruyette & Woods lifted their price target on shares of 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. Citigroup boosted their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $665.00.

The Goldman Sachs Group Price Performance

Shares of GS opened at $806.62 on Wednesday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25. The stock has a market cap of $244.18 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The firm has a fifty day moving average price of $741.95 and a 200 day moving average price of $641.68.

The Goldman Sachs Group (NYSE:GS) 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 14.32% 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 in the prior year, the company earned $8.62 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s payout ratio is 35.26%.

Insider Buying and Selling

In other news, CEO David M. Solomon sold 6,608 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the sale, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,323 shares of company stock valued at $28,111,828. Company 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.