Newbridge Financial Services Group Inc. Buys 1,789 Shares of The Goldman Sachs Group, Inc. $GS

Newbridge Financial Services Group Inc. grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 124.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,229 shares of the investment management company’s stock after purchasing an additional 1,789 shares during the period. Newbridge Financial Services Group Inc.’s holdings in The Goldman Sachs Group were worth $2,286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dogwood Wealth Management LLC grew its position in The Goldman Sachs Group by 1,800.0% in the second 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. Clearstead Trust LLC bought a new position in shares of The Goldman Sachs Group in the second quarter worth about $31,000. Graney & King LLC increased its position in shares of The Goldman Sachs Group by 51.5% during the second quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after acquiring an additional 17 shares during the period. Ridgewood Investments LLC raised its position in 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 valued at $38,000 after purchasing an additional 17 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in The Goldman Sachs Group in the second quarter worth about $39,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GS shares. Barclays lifted their target price on The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. UBS Group raised 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. BMO Capital Markets started coverage on shares of The Goldman Sachs Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $785.00 price target on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $750.00 price objective (up from $625.00) on shares of The Goldman Sachs Group in a report on Tuesday, October 21st. Finally, Daiwa Capital Markets increased their price objective on The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $787.06.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $887.90 on Friday. The business’s 50 day moving average is $800.00 and its two-hundred day moving average is $744.12. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $919.10. The company has a market capitalization of $266.31 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.17 and a beta of 1.36. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.53.

The Goldman Sachs Group (NYSE:GS) last posted 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 net margin of 13.18% and a return on equity of 15.29%. The company had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the prior year, the business posted $8.40 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts expect 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 paid a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is 32.50%.

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.