BayBridge Capital Group LLC Has $1.93 Million Stock Holdings in The Goldman Sachs Group, Inc. $GS

BayBridge Capital Group LLC raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,730 shares of the investment management company’s stock after purchasing an additional 57 shares during the period. The Goldman Sachs Group accounts for approximately 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 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ridgewood Investments LLC grew its stake in shares of The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after acquiring an additional 17 shares in the last quarter. Bank of Stockton lifted its position in shares of The Goldman Sachs Group by 0.7% during the second quarter. Bank of Stockton now owns 2,485 shares of the investment management company’s stock worth $1,759,000 after purchasing an additional 17 shares during the last quarter. Western Financial Corp CA grew its stake in shares of The Goldman Sachs Group by 0.5% during the second quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company’s stock worth $2,546,000 after acquiring an additional 17 shares during the last quarter. King Wealth Management Group boosted its position in The Goldman Sachs Group by 1.8% in the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company’s stock worth $593,000 after purchasing an additional 19 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC lifted its holdings in The Goldman Sachs Group by 0.9% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company’s stock valued at $1,104,000 after purchasing an additional 19 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup boosted their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. JMP Securities reaffirmed a “market perform” rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Morgan Stanley increased their price objective on 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. Finally, HSBC reissued a “reduce” rating and issued a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $665.00.

The Goldman Sachs Group Trading Up 1.0%

GS opened at $802.91 on Friday. The firm’s fifty day moving average price is $747.32 and its 200 day moving average price is $647.18. The stock 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 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 12-month low of $439.38 and a 12-month high of $825.25.

The Goldman Sachs Group (NYSE:GS) last announced its 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 Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm posted $8.62 earnings per share. The Goldman Sachs Group’s revenue was up 14.5% compared to the same quarter last year. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders 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 is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is currently 35.26%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, 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 sale, the chief executive officer owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the company’s 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 completion of the transaction, the chief operating officer 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 disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 in the last ninety days. 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.