Phoenix Financial Ltd. Increases Position in The Goldman Sachs Group, Inc. $GS

Phoenix Financial Ltd. boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 258.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,992 shares of the investment management company’s stock after acquiring an additional 2,878 shares during the quarter. Phoenix Financial Ltd.’s holdings in The Goldman Sachs Group were worth $2,761,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC boosted its holdings in shares of The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after purchasing an additional 29,053,586 shares in the last quarter. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $1,766,238,000. Nuveen LLC bought a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $897,185,000. Ninety One UK Ltd purchased a new stake in The Goldman Sachs Group in the second quarter worth approximately $408,780,000. Finally, Cohen Investment Advisors LLC grew its position in The Goldman Sachs Group by 5,559.2% during the first quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company’s stock valued at $256,876,000 after acquiring an additional 461,911 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

GS stock opened at $759.22 on Wednesday. The stock has a market capitalization of $229.83 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.41 and a beta of 1.42. The firm’s 50-day moving average price is $766.45 and its two-hundred day moving average price is $674.16. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period last 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. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 2.1%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 32.50%.

Insider Activity at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the sale, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at $86,463,679.48. The trade was a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,707 shares of company stock worth $19,094,804 over the last three months. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on GS shares. BMO Capital Markets began 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. Daiwa Capital Markets lifted their target price on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a report on Friday, October 17th. Three research 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $779.50.

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.