Phoenix Financial Ltd. Acquires 2,878 Shares of The Goldman Sachs Group, Inc. $GS

Phoenix Financial Ltd. grew its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 258.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,992 shares of the investment management company’s stock after purchasing an additional 2,878 shares during the period. Phoenix Financial Ltd.’s holdings in The Goldman Sachs Group were worth $2,761,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GS. Kingstone Capital Partners Texas LLC raised its holdings in shares of 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 valued at $20,566,005,000 after purchasing an additional 29,053,586 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group in the first quarter valued at $1,766,238,000. Nuveen LLC purchased a new position in shares of The Goldman Sachs Group during the 1st quarter valued at $897,185,000. Ninety One UK Ltd bought a new position in shares of The Goldman Sachs Group during the 2nd quarter worth $408,780,000. Finally, Cohen Investment Advisors LLC increased its holdings in The Goldman Sachs Group by 5,559.2% in the 1st quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company’s stock worth $256,876,000 after acquiring an additional 461,911 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GS. JMP Securities reaffirmed a “market perform” rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 8th. Citigroup upped their price target on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. BNP Paribas Exane raised their price objective on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Finally, Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Three analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $779.50.

The Goldman Sachs Group Price Performance

GS stock opened at $759.22 on Wednesday. The firm has a 50 day moving average of $766.45 and a 200-day moving average of $674.16. The firm has a market capitalization of $229.83 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.41 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the prior year, the company posted $8.40 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.50%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer owned 18,594 shares of the company’s stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,707 shares of company stock valued at $19,094,804 in the last three months. 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.