Wealthspire Advisors LLC Acquires 389 Shares of The Goldman Sachs Group, Inc. $GS

Wealthspire Advisors LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,258 shares of the investment management company’s stock after acquiring an additional 389 shares during the quarter. Wealthspire Advisors LLC’s holdings in The Goldman Sachs Group were worth $3,722,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Perennial Investment Advisors LLC lifted its stake in The Goldman Sachs Group by 34.2% in the 2nd quarter. Perennial Investment Advisors LLC now owns 863 shares of the investment management company’s stock valued at $611,000 after purchasing an additional 220 shares during the last quarter. MainStreet Investment Advisors LLC grew its position in The Goldman Sachs Group by 1.5% during the 2nd quarter. MainStreet Investment Advisors LLC now owns 7,008 shares of the investment management company’s stock worth $4,960,000 after acquiring an additional 103 shares during the last quarter. Portside Wealth Group LLC bought a new position in The Goldman Sachs Group in the second quarter valued at about $234,000. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of The Goldman Sachs Group by 17.3% during the second quarter. Pinnacle Wealth Planning Services Inc. now owns 1,590 shares of the investment management company’s stock valued at $1,125,000 after purchasing an additional 234 shares in the last quarter. Finally, Frank Rimerman Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 8.8% during the second quarter. Frank Rimerman Advisors LLC now owns 2,450 shares of the investment management company’s stock worth $1,734,000 after purchasing an additional 198 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Up 1.2%

GS stock opened at $785.42 on Thursday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $841.28. The stock’s 50 day simple moving average is $786.35 and its 200 day simple moving average is $715.26. The company has a market cap of $235.57 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The company had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period in the prior year, the firm earned $8.40 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, research analysts expect 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. Shareholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.50%.

Analysts Set New Price Targets

Several equities research analysts recently commented on GS shares. HSBC lifted their target price on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Citigroup raised their target price on The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Keefe, Bruyette & Woods increased their target price on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a research report on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Four analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $786.00.

Insider Activity at The Goldman Sachs Group

In other 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 transaction of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at $79,755,196.68. The trade was a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.55% of the stock is currently owned by insiders.

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.