Concurrent Investment Advisors LLC Increases Stock Holdings in The Goldman Sachs Group, Inc. $GS

Concurrent Investment Advisors LLC lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,526 shares of the investment management company’s stock after buying an additional 1,453 shares during the period. Concurrent Investment Advisors LLC’s holdings in The Goldman Sachs Group were worth $9,573,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. 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 valued at $20,566,005,000 after buying an additional 29,053,586 shares during the last quarter. Northern Trust Corp boosted its position in The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company’s stock worth $1,820,677,000 after purchasing an additional 40,125 shares during the last quarter. International Assets Investment Management LLC purchased a new position in The Goldman Sachs Group in the first quarter worth $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in The Goldman Sachs Group by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company’s stock worth $1,138,527,000 after purchasing an additional 120,272 shares during the last quarter. Finally, Amundi boosted its position in The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company’s stock worth $967,193,000 after purchasing an additional 225,993 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GS shares. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a research report on Thursday, July 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on 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. Finally, UBS Group boosted their target price on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $727.31.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $765.14 on Friday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The firm has a market cap of $231.62 billion, a PE ratio of 16.86, a PEG ratio of 1.44 and a beta of 1.42. The stock’s fifty day moving average price is $760.79 and its two-hundred day moving average price is $662.94.

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 analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the company posted $8.62 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

Insider Buying and Selling

In related news, CFO Denis P. Coleman sold 7,463 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by company 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.