Naples Global Advisors LLC Takes Position in The Goldman Sachs Group, Inc. $GS

Naples Global Advisors LLC purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 562 shares of the investment management company’s stock, valued at approximately $398,000.

Several other large investors have also bought and sold shares of GS. Brighton Jones LLC increased its position in The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after purchasing an additional 508 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after buying an additional 58 shares in the last quarter. NBC Securities Inc. bought a new position in shares of The Goldman Sachs Group in the 1st quarter valued at $240,000. Fermata Advisors LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $306,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in The Goldman Sachs Group by 21.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,151 shares of the investment management company’s stock worth $629,000 after acquiring an additional 202 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP John F.W. Rogers sold 6,008 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares of the company’s stock, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group 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 completion of the sale, the chief executive officer owned 126,176 shares of the company’s stock, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Up 1.4%

NYSE: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 debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s fifty day moving average is $755.05 and its 200-day moving average is $655.05. The firm has a market cap of $239.25 billion, a P/E ratio of 17.42, a P/E/G ratio of 1.62 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last released its 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 business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The Goldman Sachs Group’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.62 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced 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 is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group’s payout ratio is 35.26%.

Analysts Set New Price Targets

Several research firms have commented on GS. Wells Fargo & Company increased their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. JMP Securities reissued a “market perform” rating and set a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Citigroup lifted their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Five research 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 presently has a consensus rating of “Hold” and an average price target of $713.88.

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.