Horizon Family Wealth Inc. Boosts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Horizon Family Wealth Inc. boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 9.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,017 shares of the investment management company’s stock after buying an additional 88 shares during the quarter. Horizon Family Wealth Inc.’s holdings in The Goldman Sachs Group were worth $556,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Thoroughbred Financial Services LLC boosted its stake in The Goldman Sachs Group by 5.6% in the first quarter. Thoroughbred Financial Services LLC now owns 7,600 shares of the investment management company’s stock valued at $4,151,000 after acquiring an additional 401 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its stake in The Goldman Sachs Group by 39.0% in the first quarter. W.H. Cornerstone Investments Inc. now owns 2,129 shares of the investment management company’s stock valued at $1,163,000 after acquiring an additional 597 shares in the last quarter. Accent Capital Management LLC boosted its stake in The Goldman Sachs Group by 6.5% in the first quarter. Accent Capital Management LLC now owns 586 shares of the investment management company’s stock valued at $320,000 after acquiring an additional 36 shares in the last quarter. IPG Investment Advisors LLC boosted its stake in The Goldman Sachs Group by 75.9% in the first quarter. IPG Investment Advisors LLC now owns 4,750 shares of the investment management company’s stock valued at $2,595,000 after acquiring an additional 2,050 shares in the last quarter. Finally, ING Groep NV boosted its stake in shares of The Goldman Sachs Group by 11.2% during the first quarter. ING Groep NV now owns 15,484 shares of the investment management company’s stock worth $8,459,000 after buying an additional 1,559 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $725.83 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26. The company has a market cap of $222.71 billion, a P/E ratio of 15.99, a PEG ratio of 1.51 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $737.88. The company has a 50-day moving average price of $672.36 and a 200 day moving average price of $611.57.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results 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 net margin of 12.37% and a return on equity of 13.84%. The company had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the company posted $8.62 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is 26.44%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,079 shares of company stock valued at $14,423,221. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GS. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Citigroup increased their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Royal Bank Of Canada reiterated a “sector perform” rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $660.00.

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.