Riversedge Advisors LLC Acquires New Stake in The Goldman Sachs Group, Inc. $GS

Riversedge Advisors LLC bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 365 shares of the investment management company’s stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in The Goldman Sachs Group by 63,864.7% in the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock valued at $2,172,423,000 after acquiring an additional 3,970,467 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in The Goldman Sachs Group in the 1st quarter worth about $1,766,238,000. Nuveen LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at about $897,185,000. Assenagon Asset Management S.A. grew its holdings in The Goldman Sachs Group by 102.6% in the first quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company’s stock valued at $8,065,000 after purchasing an additional 585,084 shares during the period. Finally, Cohen Investment Advisors LLC raised its stake 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 worth $256,876,000 after purchasing an additional 461,911 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GS has been the subject of several research reports. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Hsbc Global Res downgraded The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. JMP Securities restated a “market perform” rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday, July 14th. HSBC reaffirmed a “reduce” rating and issued a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus price target of $660.00.

The Goldman Sachs Group Stock Up 0.9%

Shares of NYSE:GS opened at $787.29 on Tuesday. The company has a market capitalization of $238.33 billion, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.41. The company has a 50 day moving average of $730.38 and a two-hundred day moving average of $632.90. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $793.17. 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 (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 net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the firm earned $8.62 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm 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 dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the company’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 value of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the 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 transaction, the executive vice president owned 65,761 shares of the company’s stock, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by insiders.

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.