The Goldman Sachs Group, Inc. $GS Shares Purchased by Correct Capital Wealth Management

Correct Capital Wealth Management lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,727 shares of the investment management company’s stock after buying an additional 107 shares during the period. The Goldman Sachs Group accounts for approximately 0.4% of Correct Capital Wealth Management’s portfolio, making the stock its 23rd largest holding. Correct Capital Wealth Management’s holdings in The Goldman Sachs Group were worth $2,638,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Dogwood Wealth Management LLC raised its stake in 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 worth $26,000 after purchasing an additional 36 shares during the period. Clearstead Trust LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter worth about $31,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in The Goldman Sachs Group in the 1st quarter worth approximately $25,000. Ridgewood Investments LLC boosted its stake in shares of The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new position in The Goldman Sachs Group in the 2nd quarter valued at about $39,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $750.00 price target (up previously from $625.00) on shares of The Goldman Sachs Group in a research report on Tuesday, October 21st. HSBC increased their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a research note on Friday, October 17th. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $786.00.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the transaction, the chief operating officer owned 106,268 shares in the company, valued at $79,755,196.68. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Up 1.5%

The Goldman Sachs Group stock opened at $802.75 on Wednesday. The firm has a market capitalization of $240.77 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.43 and a beta of 1.41. The company has a 50 day moving average price of $786.41 and a 200 day moving average price of $722.75. 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 Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $841.28.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned $8.40 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 19.5% on a year-over-year basis. Research 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 declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 32.50%.

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.