RPG Investment Advisory LLC Raises Stock Position in The Goldman Sachs Group, Inc. $GS

RPG Investment Advisory LLC raised its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 103.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,042 shares of the investment management company’s stock after purchasing an additional 16,780 shares during the quarter. RPG Investment Advisory LLC’s holdings in The Goldman Sachs Group were worth $18,051,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GS. Deutsche Bank AG boosted its holdings in shares of The Goldman Sachs Group by 15.4% during the 4th quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company’s stock valued at $594,412,000 after buying an additional 138,198 shares in the last quarter. Clear Creek Financial Management LLC bought a new position in The Goldman Sachs Group during the 1st quarter valued at about $321,000. Blueshift Asset Management LLC lifted its stake in The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock valued at $576,000 after acquiring an additional 652 shares during the period. Adams Diversified Equity Fund Inc. lifted its stake in The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock valued at $27,205,000 after acquiring an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC bought a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $1,643,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO David M. Solomon sold 6,608 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the company’s 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 transaction, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock worth $14,423,221 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Down 0.7%

Shares of The Goldman Sachs Group stock opened at $715.3670 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $749.05. 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 stock has a market cap of $216.56 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.53 and a beta of 1.38. The firm’s 50-day moving average is $702.98 and its two-hundred day moving average is $620.13.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 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 business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business posted $8.62 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company 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 is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is presently 26.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective 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. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the company an “outperform” rating in a report on Thursday, July 10th. Zacks Research raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. 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. Finally, JMP Securities reaffirmed a “market perform” rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group has a consensus 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.