PDS Planning Inc Raises Stock Position in The Goldman Sachs Group, Inc. $GS

PDS Planning Inc lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,662 shares of the investment management company’s stock after acquiring an additional 112 shares during the period. PDS Planning Inc’s holdings in The Goldman Sachs Group were worth $1,176,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Dogwood Wealth Management LLC raised its position in shares of The Goldman Sachs Group by 1,800.0% during the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after buying an additional 36 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in The Goldman Sachs Group during the first quarter valued at $25,000. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group during the first quarter valued at $29,000. Ridgewood Investments LLC grew its stake in The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 17 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 23 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Down 1.9%

Shares of GS opened at $765.14 on Friday. The company has a market cap of $231.62 billion, a PE ratio of 16.86, a P/E/G ratio of 1.47 and a beta of 1.42. The business has a fifty day moving average of $760.79 and a 200 day moving average of $662.32. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week 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 Goldman Sachs Group (NYSE:GS) last issued 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 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 period last year, the company earned $8.62 earnings per share. The Goldman Sachs Group’s revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts expect 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 declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.1%. The ex-dividend date was 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 currently 35.26%.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,608 shares of the firm’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 directly 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 is accessible through the SEC website. Also, COO John E. Waldron sold 9,244 shares of the firm’s stock in a transaction that occurred 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 $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 have sold 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group increased their price objective on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley lifted their price objective on The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Wells Fargo & Company raised 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. Finally, 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. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $727.31.

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.