BayBridge Capital Group LLC Grows Stake in The Goldman Sachs Group, Inc. $GS

BayBridge Capital Group LLC raised its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,730 shares of the investment management company’s stock after buying an additional 57 shares during the period. The Goldman Sachs Group comprises about 1.2% of BayBridge Capital Group LLC’s portfolio, making the stock its 18th largest holding. BayBridge Capital Group LLC’s holdings in The Goldman Sachs Group were worth $1,932,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of The Goldman Sachs Group during the first quarter worth about $25,000. American Capital Advisory LLC purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $29,000. Godsey & Gibb Inc. boosted 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 worth $30,000 after buying an additional 34 shares during the period. Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth about $31,000. Finally, Cornerstone Planning Group LLC increased its position in The Goldman Sachs Group by 46.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 23 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 1.0%

Shares of The Goldman Sachs Group stock opened at $802.91 on Friday. The company has a market capitalization of $243.06 billion, a PE ratio of 17.69, a P/E/G ratio of 1.67 and a beta of 1.41. The business has a 50-day moving average of $747.32 and a 200-day moving average of $647.18. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25. 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 (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.62 earnings per share. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend 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%.

Analysts Set New Price Targets

Several equities analysts have commented on GS shares. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Royal Bank Of Canada restated a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Citigroup boosted their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Finally, Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an “outperform” rating in a research report on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $665.00.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the company’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 $13,469,493.60. This represents a 28.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction 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 transaction, the chief executive officer directly 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. Over the last 90 days, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Company 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.