Wescott Financial Advisory Group LLC cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,602 shares of the investment management company’s stock after selling 147 shares during the quarter. Wescott Financial Advisory Group LLC’s holdings in The Goldman Sachs Group were worth $1,422,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group during the 1st quarter worth about $25,000. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth about $29,000. Godsey & Gibb Inc. lifted its holdings in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after buying an additional 34 shares during the period. Mascagni Wealth Management Inc. acquired a new position in The Goldman Sachs Group during the 4th quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC lifted its holdings in The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock worth $35,000 after buying an additional 49 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently weighed in on GS. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. 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 report on Monday, July 21st. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Hsbc Global Res lowered The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Finally, Zacks Research raised The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Hold” and an average price target of $660.00.
The Goldman Sachs Group Stock Performance
Shares of The Goldman Sachs Group stock opened at $715.3670 on Friday. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $749.05. The firm has a market capitalization of $216.56 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.53 and a beta of 1.38. The business has a 50-day simple moving average of $702.98 and a 200 day simple moving average of $620.13. 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 (NYSE:GS – Get Free Report) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the company posted $8.62 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, research 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. Shareholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. 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 presently 26.44%.
Insiders Place Their Bets
In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares of the company’s stock, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 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 ninety days, insiders sold 20,079 shares of company stock valued at $14,423,221. Corporate insiders own 0.55% of the company’s stock.
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.
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