Firethorn Wealth Partners LLC Buys New Shares in The Goldman Sachs Group, Inc. $GS

Firethorn Wealth Partners LLC purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 344 shares of the investment management company’s stock, valued at approximately $243,000.

Other hedge funds also recently made changes to their positions in the company. Talbot Financial LLC grew its stake in shares of The Goldman Sachs Group by 16.7% during the 2nd quarter. Talbot Financial LLC now owns 47,364 shares of the investment management company’s stock valued at $33,522,000 after buying an additional 6,782 shares during the period. Clarius Group LLC boosted its holdings in The Goldman Sachs Group by 3.5% in the second quarter. Clarius Group LLC now owns 3,152 shares of the investment management company’s stock valued at $2,231,000 after acquiring an additional 106 shares during the last quarter. Signature Wealth Management Partners LLC grew its position in The Goldman Sachs Group by 12.9% during the second quarter. Signature Wealth Management Partners LLC now owns 1,747 shares of the investment management company’s stock valued at $1,236,000 after acquiring an additional 200 shares during the period. Wells Trecaso Financial Group LLC increased its stake in The Goldman Sachs Group by 0.5% during the second quarter. Wells Trecaso Financial Group LLC now owns 21,534 shares of the investment management company’s stock worth $15,240,000 after acquiring an additional 108 shares during the last quarter. Finally, AMF Tjanstepension AB raised its holdings in shares of The Goldman Sachs Group by 27.9% in the 2nd quarter. AMF Tjanstepension AB now owns 127,212 shares of the investment management company’s stock worth $90,075,000 after purchasing an additional 27,766 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $790.32 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. 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 firm has a market cap of $239.25 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 1.64 and a beta of 1.42. The business’s 50 day moving average is $755.05 and its two-hundred day moving average is $655.73.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results 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 Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the company posted $8.62 earnings per share. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

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

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the company’s stock in a transaction that occurred 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 owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the completion of the transaction, the chief operating officer owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock valued at $28,111,828 in the last three months. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GS. Evercore ISI boosted their target price on The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Citigroup lifted their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Citizens Jmp reaffirmed a “market perform” rating 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $717.00.

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.