Magnus Financial Group LLC Boosts Stake in The Goldman Sachs Group, Inc. $GS

Magnus Financial Group LLC grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,156 shares of the investment management company’s stock after buying an additional 213 shares during the period. Magnus Financial Group LLC’s holdings in The Goldman Sachs Group were worth $2,941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of The Goldman Sachs Group during the first quarter worth $25,000. American Capital Advisory LLC purchased a new position in shares of The Goldman Sachs Group during the first quarter worth $29,000. Godsey & Gibb Inc. raised its holdings in shares of The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of The Goldman Sachs Group during the fourth quarter worth $31,000. Finally, Lowe Wealth Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 in the last ninety days. 0.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GS shares. Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the stock an “outperform” rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a report on Thursday, July 17th. Citigroup raised their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Morgan Stanley raised their price target on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Finally, Wells Fargo & Company lifted their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $665.00.

The Goldman Sachs Group Stock Down 1.6%

GS opened at $793.50 on Thursday. The company has a fifty day moving average of $743.66 and a two-hundred day moving average of $642.72. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The stock has a market capitalization of $240.21 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.68 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the business earned $8.62 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.26%.

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.