Patriot Financial Group Insurance Agency LLC Acquires 35 Shares of The Goldman Sachs Group, Inc. $GS

Patriot Financial Group Insurance Agency LLC lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,460 shares of the investment management company’s stock after buying an additional 35 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in The Goldman Sachs Group were worth $1,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GS. Kingstone Capital Partners Texas LLC boosted its position in shares of The Goldman Sachs Group by 617,504.5% during 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 buying an additional 29,053,586 shares during the period. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group during the first quarter worth about $1,766,238,000. Nuveen LLC acquired a new position in shares of The Goldman Sachs Group during the first quarter worth about $897,185,000. Assenagon Asset Management S.A. boosted its position in shares of The Goldman Sachs Group by 102.6% during the first quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company’s stock worth $8,065,000 after buying an additional 585,084 shares during the period. Finally, Ninety One UK Ltd acquired a new position in shares of The Goldman Sachs Group during the second quarter worth about $408,780,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Saturday, September 27th. Royal Bank Of Canada increased their price target on The Goldman Sachs Group from $750.00 to $843.00 and gave the company a “sector perform” rating in a research report on Wednesday. Citigroup increased their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Evercore ISI increased their price target on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, JMP Securities reissued a “market perform” rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $713.88.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $790.32 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The stock’s 50 day moving average price is $755.05 and its two-hundred day moving average price is $655.05. The firm has a market capitalization of $239.25 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.62 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 Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.62 earnings per share. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $4.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is currently 35.26%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the company’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 value of $4,310,079.12. Following the sale, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

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.