Washington Trust Bank Increases Stake in The Goldman Sachs Group, Inc. $GS

Washington Trust Bank raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,451 shares of the investment management company’s stock after purchasing an additional 1,881 shares during the quarter. The Goldman Sachs Group accounts for about 1.9% of Washington Trust Bank’s portfolio, making the stock its 14th largest position. Washington Trust Bank’s holdings in The Goldman Sachs Group were worth $22,967,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd purchased a new position in The Goldman Sachs Group during the first quarter valued at approximately $25,000. Dogwood Wealth Management LLC raised its position in shares of The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after acquiring an additional 36 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of 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 worth $38,000 after buying an additional 23 shares during the last quarter. Ridgewood Investments LLC increased its holdings in shares of 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, MeadowBrook Investment Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the second quarter valued at $39,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $793.12 on Thursday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The stock’s 50-day simple moving average is $776.50 and its 200-day simple moving average is $697.45. The firm has a market capitalization of $240.09 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping 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 firm had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same quarter in the prior year, the company posted $8.40 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, equities research 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be issued 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 payout ratio is 32.50%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Daiwa Capital Markets lifted their price target on The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. UBS Group lifted their target price on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Finally, JMP Securities restated a “market perform” rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Three analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $779.50.

Insider Activity

In related news, COO John E. Waldron sold 9,000 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares of the company’s stock, valued at $79,755,196.68. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is owned by corporate 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.