The Goldman Sachs Group, Inc. (NYSE:GS) Shares Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 19.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 955 shares of the investment management company’s stock after acquiring an additional 156 shares during the quarter. Sierra Summit Advisors LLC’s holdings in The Goldman Sachs Group were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC raised its stake in shares of The Goldman Sachs Group by 0.8% in the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock worth $1,085,000 after buying an additional 20 shares in the last quarter. Fulton Bank N.A. lifted its holdings in The Goldman Sachs Group by 0.8% in the 2nd quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock valued at $1,233,000 after acquiring an additional 22 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of The Goldman Sachs Group by 1.1% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 1,975 shares of the investment management company’s stock valued at $893,000 after purchasing an additional 22 shares in the last quarter. Jacobi Capital Management LLC grew its stake in shares of The Goldman Sachs Group by 1.5% in the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after purchasing an additional 23 shares during the last quarter. Finally, Mayflower Financial Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 1.2% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 2,019 shares of the investment management company’s stock worth $913,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

The Goldman Sachs Group Price Performance

GS opened at $478.99 on Monday. The stock has a fifty day moving average price of $490.33 and a 200 day moving average price of $451.61. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The stock has a market cap of $154.46 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.52 by $0.10. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. Analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a dividend of $3.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. This represents a $12.00 annualized dividend and a dividend yield of 2.51%. The Goldman Sachs Group’s dividend payout ratio is 46.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GS. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Morgan Stanley upped their target price on The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Evercore ISI lifted their price target on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $496.44.

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.