Richardson Financial Services Inc. Purchases 21 Shares of The Goldman Sachs Group, Inc. $GS

Richardson Financial Services Inc. raised its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 17.8% during the second quarter, Holdings Channel reports. The fund owned 139 shares of the investment management company’s stock after acquiring an additional 21 shares during the period. Richardson Financial Services Inc.’s holdings in The Goldman Sachs Group were worth $98,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC raised its position in The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after acquiring an additional 29,053,586 shares during the period. Northern Trust Corp raised its holdings in The Goldman Sachs Group by 1.2% in the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company’s stock worth $1,820,677,000 after purchasing an additional 40,125 shares during the period. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of The Goldman Sachs Group by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company’s stock worth $1,138,527,000 after buying an additional 120,272 shares during the period. Finally, Amundi raised its stake in shares of The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company’s stock worth $967,193,000 after buying an additional 225,993 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 1.9%

Shares of GS opened at $765.14 on Friday. The company’s fifty day moving average is $760.79 and its 200 day moving average is $662.94. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The stock has a market capitalization of $231.62 billion, a PE ratio of 16.86, a P/E/G ratio of 1.44 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 announced its quarterly earnings results 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 Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the business posted $8.62 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts expect 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 was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a dividend of $4.00 per share. The ex-dividend date of this dividend was Friday, August 29th. 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 yield of 2.1%. The Goldman Sachs Group’s payout ratio is presently 35.26%.

Insider Buying and Selling

In other 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 transaction, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the business’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 transaction, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $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 valued at $28,111,828. Insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. Royal Bank Of Canada raised their price objective on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. JMP Securities restated a “market perform” rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Morgan Stanley raised their price objective on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and an average price target of $727.31.

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.