Cape ANN Savings Bank Acquires Shares of 350 The Goldman Sachs Group, Inc. $GS

Cape ANN Savings Bank purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, Holdings Channel.com reports. The firm purchased 350 shares of the investment management company’s stock, valued at approximately $248,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Canada Pension Plan Investment Board boosted its stake in The Goldman Sachs Group by 28.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after acquiring an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC bought a new position in shares of The Goldman Sachs Group during the first quarter worth about $321,000. Blueshift Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 161.8% during the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock worth $576,000 after purchasing an additional 652 shares during the last quarter. Adams Diversified Equity Fund Inc. lifted its position in shares of The Goldman Sachs Group by 41.5% during the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock worth $27,205,000 after purchasing an additional 14,600 shares during the last quarter. Finally, Terra Nova Asset Management LLC bought a new position in The Goldman Sachs Group during the 1st quarter worth approximately $1,643,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 1.4%

Shares of NYSE:GS opened at $790.32 on Friday. The company’s 50-day moving average price is $755.05 and its 200 day moving average price is $655.05. The company has a market cap of $239.25 billion, a PE ratio of 17.42, a P/E/G ratio of 1.62 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. 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 earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the business earned $8.62 EPS. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s payout ratio is presently 35.26%.

Insider Activity 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 shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 over the last quarter. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JMP Securities reaffirmed a “market perform” rating and set a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Hsbc Global Res cut shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Wells Fargo & Company raised their target price 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. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $713.88.

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.