Chase Investment Counsel Corp Grows Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Chase Investment Counsel Corp increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 519.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,289 shares of the investment management company’s stock after purchasing an additional 9,467 shares during the quarter. The Goldman Sachs Group comprises about 1.7% of Chase Investment Counsel Corp’s holdings, making the stock its 17th largest position. Chase Investment Counsel Corp’s holdings in The Goldman Sachs Group were worth $5,106,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Waldron Private Wealth LLC grew its stake in The Goldman Sachs Group by 0.8% during the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after purchasing an additional 20 shares in the last quarter. Fulton Bank N.A. grew its position in shares of The Goldman Sachs Group by 0.8% in the 2nd quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock worth $1,233,000 after acquiring an additional 22 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its position in shares of The Goldman Sachs Group by 1.1% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 1,975 shares of the investment management company’s stock worth $893,000 after acquiring an additional 22 shares in the last quarter. Jacobi Capital Management LLC grew its position in shares of The Goldman Sachs Group by 1.5% in the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after acquiring an additional 23 shares in the last quarter. Finally, Mayflower Financial Advisors LLC grew its position in shares of The Goldman Sachs Group by 1.2% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 2,019 shares of the investment management company’s stock worth $913,000 after acquiring an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated 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 owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $498.51 on Monday. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $160.75 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 0.78 and a beta of 1.36. The stock’s fifty day simple moving average is $492.25 and its 200-day simple moving average is $458.99.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 35.43 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a dividend of $3.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date was Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.41%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GS. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Barclays raised their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. BMO Capital Markets raised their price target on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Finally, Oppenheimer raised their price target on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $496.44.

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.