Norris Perne & French LLP MI Takes Position in The Goldman Sachs Group, Inc. $GS

Norris Perne & French LLP MI bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 347 shares of the investment management company’s stock, valued at approximately $246,000.

A number of other institutional investors also recently modified their holdings of GS. Brighton Jones LLC boosted its position in shares of The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock valued at $1,989,000 after acquiring an additional 508 shares during the period. Revolve Wealth Partners LLC lifted its position in The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after purchasing an additional 58 shares during the period. AdvisorNet Financial Inc lifted its position in The Goldman Sachs Group by 49.0% during the first quarter. AdvisorNet Financial Inc now owns 1,125 shares of the investment management company’s stock worth $614,000 after purchasing an additional 370 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in The Goldman Sachs Group by 8.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 16,279 shares of the investment management company’s stock worth $8,893,000 after purchasing an additional 1,295 shares during the period. Finally, Allied Investment Advisors LLC lifted its position in The Goldman Sachs Group by 1.0% during the first quarter. Allied Investment Advisors LLC now owns 22,105 shares of the investment management company’s stock worth $12,076,000 after purchasing an additional 228 shares during the period. Institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GS shares. HSBC reaffirmed a “reduce” rating and set a $627.00 price objective (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Hsbc Global Res cut shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Citigroup upped their price objective on shares of 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. Finally, Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and an average target price of $665.00.

The Goldman Sachs Group Stock Up 1.0%

Shares of NYSE GS opened at $802.91 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a market cap of $243.06 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.67 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The stock has a 50-day moving average price of $747.32 and a two-hundred day moving average price of $648.04.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the firm earned $8.62 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. 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 company 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. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group’s payout ratio is currently 35.26%.

Insider Transactions at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,244 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares of the company’s stock, valued at $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Company 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.