The Goldman Sachs Group, Inc. $GS Shares Acquired by Drive Wealth Management LLC

Drive Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 941 shares of the investment management company’s stock after purchasing an additional 43 shares during the quarter. Drive Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $666,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group in the first quarter valued at approximately $25,000. Dogwood Wealth Management LLC raised its holdings in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 36 shares in the last quarter. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its holdings in The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 23 shares in the last quarter. Finally, Ridgewood Investments LLC raised its holdings in The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $750.71 on Monday. 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 firm has a market cap of $227.25 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The company’s 50 day simple moving average is $765.25 and its 200-day simple moving average is $671.52. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25.

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

The Goldman Sachs Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GS shares. Evercore ISI raised their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Citigroup raised their price objective on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a report on Thursday. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. BMO Capital Markets initiated coverage on shares of The Goldman Sachs Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $785.00 price objective for the company. Finally, UBS Group boosted their price objective on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Four investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $771.00.

About The Goldman Sachs Group

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.