The Goldman Sachs Group, Inc. $GS Stake Boosted by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 23.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,712 shares of the investment management company’s stock after purchasing an additional 323 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,211,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Daymark Wealth Partners LLC lifted its stake in The Goldman Sachs Group by 4.1% in the second quarter. Daymark Wealth Partners LLC now owns 31,217 shares of the investment management company’s stock valued at $22,094,000 after buying an additional 1,239 shares during the last quarter. Oarsman Capital Inc. lifted its stake in The Goldman Sachs Group by 1.5% in the second quarter. Oarsman Capital Inc. now owns 5,438 shares of the investment management company’s stock valued at $3,849,000 after buying an additional 81 shares during the last quarter. Bank of Jackson Hole Trust lifted its stake in The Goldman Sachs Group by 31.5% in the second quarter. Bank of Jackson Hole Trust now owns 834 shares of the investment management company’s stock valued at $590,000 after buying an additional 200 shares during the last quarter. Providence First Trust Co lifted its stake in The Goldman Sachs Group by 0.9% in the second quarter. Providence First Trust Co now owns 2,845 shares of the investment management company’s stock valued at $2,014,000 after buying an additional 24 shares during the last quarter. Finally, Pettee Investors Inc. lifted its stake in The Goldman Sachs Group by 12.8% in the second quarter. Pettee Investors Inc. now owns 2,733 shares of the investment management company’s stock valued at $1,934,000 after buying an additional 310 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GS. Citigroup raised their target price on 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. UBS Group raised their target price on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Daiwa Capital Markets lifted their price objective on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley cut their price objective on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. Three research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus price target of $779.50.

Insider Buying and Selling

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the business’s 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 directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $788.83 on Friday. 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 company’s 50-day moving average price is $772.90 and its two-hundred day moving average price is $688.24. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The stock has a market cap of $238.79 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 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 firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the previous year, the business earned $8.40 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be given a $4.00 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.0%. The Goldman Sachs Group’s payout ratio is 32.50%.

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.