Ritholtz Wealth Management Acquires 176 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Ritholtz Wealth Management increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,516 shares of the investment management company’s stock after acquiring an additional 176 shares during the quarter. Ritholtz Wealth Management’s holdings in The Goldman Sachs Group were worth $2,947,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GS. First Personal Financial Services bought a new stake in The Goldman Sachs Group in the first quarter valued at about $25,000. First United Bank & Trust bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $26,000. POM Investment Strategies LLC bought a new position in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $26,000. Versant Capital Management Inc boosted its stake in The Goldman Sachs Group by 106.3% in the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after buying an additional 34 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its position in The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,013,500 shares of company stock valued at $32,181,365. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on GS. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. UBS Group boosted their price target on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of The Goldman Sachs Group from $461.00 to $464.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Evercore ISI increased their price target on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer lifted their price objective on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $495.94.

The Goldman Sachs Group Price Performance

GS opened at $510.25 on Monday. The company has a fifty day simple moving average of $485.69 and a 200 day simple moving average of $444.90. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock has a market cap of $161.14 billion, a P/E ratio of 19.92, a P/E/G ratio of 0.79 and a beta of 1.37. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating the consensus estimate of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.60 billion. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 35.07 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio is presently 42.95%.

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.