Marks Group Wealth Management Inc Raises Position in The Goldman Sachs Group, Inc. $GS

Marks Group Wealth Management Inc lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 49.2% in the second quarter, Holdings Channel.com reports. The firm owned 931 shares of the investment management company’s stock after buying an additional 307 shares during the period. Marks Group Wealth Management Inc’s holdings in The Goldman Sachs Group were worth $659,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dogwood Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 1,800.0% in the 2nd 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 during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group in the first quarter worth about $25,000. American Capital Advisory LLC purchased a new position in shares of The Goldman Sachs Group during the first quarter valued at approximately $29,000. Ridgewood Investments LLC boosted its position 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 buying an additional 17 shares during the period. Finally, Cornerstone Planning Group LLC grew 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 buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In related news, CEO David M. Solomon sold 6,608 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction 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 $89,876,426.56. This represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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 Up 0.8%

NYSE:GS opened at $796.13 on Tuesday. The firm has a 50-day simple moving average of $756.50 and a 200-day simple moving average of $657.99. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The firm has a market cap of $241.00 billion, a P/E ratio of 17.54, a P/E/G ratio of 1.64 and a beta of 1.42. 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 released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $8.62 earnings per share. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GS shares. Royal Bank Of Canada raised their price target on The Goldman Sachs Group from $750.00 to $843.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Saturday, September 27th. Finally, HSBC lifted their price objective on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. 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 currently has a consensus rating of “Hold” and an average price target of $717.00.

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.