Legacy Financial Advisors Inc. Increases Stock Position in The Goldman Sachs Group, Inc. $GS

Legacy Financial Advisors Inc. raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 11.4% during the first quarter, Holdings Channel.com reports. The firm owned 1,773 shares of the investment management company’s stock after purchasing an additional 182 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in The Goldman Sachs Group were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Colonial Trust Advisors lifted its position in shares of The Goldman Sachs Group by 0.7% during the 1st quarter. Colonial Trust Advisors now owns 27,058 shares of the investment management company’s stock valued at $14,781,000 after acquiring an additional 199 shares during the period. Fairscale Capital LLC lifted its position in shares of The Goldman Sachs Group by 960.0% during the 1st quarter. Fairscale Capital LLC now owns 212 shares of the investment management company’s stock valued at $116,000 after acquiring an additional 192 shares during the period. Korea Investment CORP lifted its position in shares of The Goldman Sachs Group by 9.0% during the 1st quarter. Korea Investment CORP now owns 252,023 shares of the investment management company’s stock valued at $137,678,000 after acquiring an additional 20,772 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of The Goldman Sachs Group by 54.8% during the 1st quarter. Aptus Capital Advisors LLC now owns 12,157 shares of the investment management company’s stock valued at $6,641,000 after acquiring an additional 4,305 shares during the period. Finally, Granite Harbor Advisors Inc. acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $207,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 0.0%

Shares of NYSE GS opened at $730.47 on Tuesday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $749.05. The firm has a fifty day moving average of $697.14 and a 200-day moving average of $618.14. The stock has a market capitalization of $221.13 billion, a PE ratio of 16.10, a P/E/G ratio of 1.55 and a beta of 1.38. 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 Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 company had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the company earned $8.62 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate 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 will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio is presently 26.44%.

Insider Activity

In other news, 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 completion of the sale, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,079 shares of company stock valued at $14,423,221 in the last ninety days. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GS shares. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted 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. Royal Bank Of Canada restated a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Finally, HSBC restated a “reduce” rating and set a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and an average target price of $660.00.

The Goldman Sachs Group Company 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.