Ritholtz Wealth Management Buys 1,329 Shares of The Goldman Sachs Group, Inc. $GS

Ritholtz Wealth Management lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 16.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,483 shares of the investment management company’s stock after buying an additional 1,329 shares during the period. Ritholtz Wealth Management’s holdings in The Goldman Sachs Group were worth $6,711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board increased its stake in The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after acquiring an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at $321,000. Blueshift Asset Management LLC increased its stake in shares of The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock valued at $576,000 after purchasing an additional 652 shares during the last quarter. Adams Diversified Equity Fund Inc. raised its holdings in shares of The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock worth $27,205,000 after buying an additional 14,600 shares in the last quarter. Finally, Terra Nova Asset Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $1,643,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Buying and Selling

In other news, EVP John F.W. Rogers sold 6,008 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, COO John E. Waldron sold 9,000 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $771.44 on Wednesday. The stock has a market cap of $233.53 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.48 and a beta of 1.42. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The company’s fifty day moving average is $763.05 and its 200 day moving average is $666.12. 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 announced its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.27 by $1.98. The business had revenue of $11.33 billion during the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The Goldman Sachs Group’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $8.40 EPS. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be issued a $4.00 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citizens Jmp reiterated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. 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. JMP Securities reiterated a “market perform” rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. HSBC raised their target price on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $746.69.

The Goldman Sachs Group 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.