Ignite Planners LLC Takes $238,000 Position in The Goldman Sachs Group, Inc. $GS

Ignite Planners LLC purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 336 shares of the investment management company’s stock, valued at approximately $238,000.

A number of other hedge funds have also recently made changes to their positions in GS. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of The Goldman Sachs Group during the first quarter valued at about $25,000. Dogwood Wealth Management LLC boosted its stake in shares of 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 valued at $26,000 after purchasing an additional 36 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group during the first quarter valued at about $29,000. Cornerstone Planning Group LLC boosted its stake in shares of The Goldman Sachs Group by 46.9% during the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 23 shares in the last quarter. Finally, Ridgewood Investments LLC boosted its stake in shares of The Goldman Sachs Group by 45.9% during 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 in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GS shares. HSBC lifted their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Citigroup lifted their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday. UBS Group lifted their price objective on The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, BMO Capital Markets started coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $727.31.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the sale, the executive vice president owned 65,761 shares of the company’s stock, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Down 1.5%

Shares of GS stock opened at $777.49 on Thursday. The company has a market cap of $235.36 billion, a P/E ratio of 17.13, a PEG ratio of 1.49 and a beta of 1.42. The stock has a 50 day simple moving average of $758.55 and a two-hundred day simple moving average of $659.72. 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, 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 issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $8.62 earnings per share. Research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $4.00 dividend. The ex-dividend date was Friday, August 29th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

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.