Atlantic Edge Private Wealth Management LLC Raises Stake in The Goldman Sachs Group, Inc. $GS

Atlantic Edge Private Wealth Management LLC raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 26.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 505 shares of the investment management company’s stock after purchasing an additional 105 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $357,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GS. Kingstone Capital Partners Texas LLC lifted its holdings in 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 valued at $20,566,005,000 after purchasing an additional 29,053,586 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth $1,766,238,000. Nuveen LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth $897,185,000. Ninety One UK Ltd purchased a new position in shares of The Goldman Sachs Group in the second quarter worth $408,780,000. Finally, Cohen Investment Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 5,559.2% in the first quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company’s stock worth $256,876,000 after buying an additional 461,911 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 1.6%

Shares of GS opened at $763.11 on Tuesday. The company’s fifty day moving average is $766.13 and its 200 day moving average is $673.57. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The stock has a market capitalization of $231.01 billion, a PE ratio of 15.50, a P/E/G ratio of 1.39 and a beta of 1.42. 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 (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter in the previous year, the business posted $8.40 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders 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 yield of 2.1%. The Goldman Sachs Group’s payout ratio is 32.50%.

Analysts Set New Price Targets

GS has been the topic of several research analyst reports. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Wells Fargo & Company boosted their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. JMP Securities reissued a “market perform” rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. BNP Paribas Exane boosted their target price on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Morgan Stanley reduced their price target 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 report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus price target of $771.00.

Insider Activity

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at $86,463,679.48. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Denis P. Coleman sold 7,463 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,323 shares of company stock worth $28,111,828. 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.