The Goldman Sachs Group, Inc. $GS Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,042 shares of the investment management company’s stock after purchasing an additional 129 shares during the period. Jacobi Capital Management LLC’s holdings in The Goldman Sachs Group were worth $1,116,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. King Wealth Management Group boosted its stake in shares of The Goldman Sachs Group by 1.8% during the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company’s stock worth $593,000 after purchasing an additional 19 shares during the last quarter. Raab & Moskowitz Asset Management LLC boosted its stake in shares of The Goldman Sachs Group by 0.9% during the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company’s stock worth $1,104,000 after purchasing an additional 19 shares during the last quarter. Wynn Capital LLC boosted its stake in shares of The Goldman Sachs Group by 0.3% during the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company’s stock worth $3,211,000 after purchasing an additional 20 shares during the last quarter. 1900 Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 2.6% during the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company’s stock worth $425,000 after purchasing an additional 20 shares during the last quarter. Finally, Register Financial Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 2.5% during the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company’s stock worth $440,000 after purchasing an additional 20 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GS shares. HSBC reissued a “reduce” rating and issued a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Wells Fargo & Company raised 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 report on Tuesday, July 8th. Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Royal Bank Of Canada reissued a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Finally, Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $660.00.

Insider Activity

In other news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction that occurred 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 owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group 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 sale, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,323 shares of company stock worth $28,111,828. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Up 2.0%

Shares of GS stock opened at $785.23 on Friday. The stock has a market cap of $237.70 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.41. 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, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $793.17. The firm’s 50 day moving average price is $727.73 and its two-hundred day moving average price is $630.35.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to analysts’ expectations 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 was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $8.62 earnings per share. 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 company 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. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group’s payout ratio is 35.26%.

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.