Spectrum Planning & Advisory Services Inc. Takes $730,000 Position in The Goldman Sachs Group, Inc. $GS

Spectrum Planning & Advisory Services Inc. acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,032 shares of the investment management company’s stock, valued at approximately $730,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $25,000. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group during the 1st quarter valued at $29,000. Godsey & Gibb Inc. grew its holdings 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 valued at $30,000 after purchasing an additional 34 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at $31,000. Finally, Lowe Wealth Advisors LLC grew its holdings 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 valued at $35,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Morgan Stanley increased their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $665.00.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $793.50 on Thursday. The firm has a market cap of $240.21 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The company’s fifty day simple moving average is $743.66 and its two-hundred day simple moving average is $642.72.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly 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 business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $8.62 EPS. As a group, equities analysts expect 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend 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 presently 35.26%.

Insider Activity at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The shares were 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 approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction dated 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 sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by company 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.