Seneca House Advisors Buys Shares of 292 The Goldman Sachs Group, Inc. $GS

Seneca House Advisors bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 292 shares of the investment management company’s stock, valued at approximately $206,000.

Several other hedge funds have also recently added to or reduced their stakes in GS. GAMMA Investing LLC raised its stake in The Goldman Sachs Group by 63,864.7% during 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 in the last quarter. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group during the 1st quarter valued at $1,766,238,000. Nuveen LLC bought a new stake in The Goldman Sachs Group during the 1st quarter valued at $897,185,000. Assenagon Asset Management S.A. raised its stake in The Goldman Sachs Group by 102.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company’s stock valued at $8,065,000 after acquiring an additional 585,084 shares in the last quarter. Finally, Cohen Investment Advisors LLC raised its stake in The Goldman Sachs Group by 5,559.2% during the 1st 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 in the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In other news, COO John E. Waldron sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value 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. This represents a 7.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The shares were 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 of the company’s stock, valued at $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GS has been the topic of several recent analyst reports. Hsbc Global Res downgraded The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Morgan Stanley boosted their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank Of Canada reissued a “sector perform” rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Finally, Wall Street Zen raised The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $665.00.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $786.09 on Wednesday. The business’s 50-day moving average price is $732.17 and its two-hundred day moving average price is $633.97. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $793.17. The company has a market capitalization of $237.97 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to analysts’ expectations 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 was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.62 EPS. Analysts anticipate 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $4.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio is currently 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.