Resonant Capital Advisors LLC Raises Stake in The Goldman Sachs Group, Inc. $GS

Resonant Capital Advisors LLC lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 49.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,169 shares of the investment management company’s stock after purchasing an additional 386 shares during the quarter. Resonant Capital Advisors LLC’s holdings in The Goldman Sachs Group were worth $827,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Dogwood Wealth Management LLC grew its holdings in shares of The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after purchasing an additional 36 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $25,000. American Capital Advisory LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $29,000. Ridgewood Investments LLC grew its holdings in shares of The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the period. Finally, Avion Wealth grew its holdings in shares of The Goldman Sachs Group by 31.1% during the 2nd quarter. Avion Wealth now owns 59 shares of the investment management company’s stock worth $41,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $784.09 on Monday. The business’s 50 day moving average is $767.57 and its two-hundred day moving average is $681.50. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The firm has a market cap of $237.36 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.43 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23.

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, beating analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The company had revenue of $11.33 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period in the prior year, the company posted $8.40 EPS. The Goldman Sachs Group’s quarterly revenue was up 19.5% on a year-over-year basis. Analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be given a $4.00 dividend. 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 Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GS. Royal Bank Of Canada restated a “neutral” rating and issued a $843.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, October 14th. Daiwa Capital Markets upped their price target on The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Saturday. Finally, UBS Group upped their price target on The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $779.50.

Insider Activity

In related news, COO John E. Waldron sold 9,244 shares of the company’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 transaction of $6,934,016.84. Following the sale, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.55% of the stock is currently owned by insiders.

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.