Granite Bay Wealth Management LLC Makes New Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Granite Bay Wealth Management LLC purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,600 shares of the investment management company’s stock, valued at approximately $5,529,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GS. POM Investment Strategies LLC acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at approximately $26,000. Semmax Financial Advisors Inc. acquired a new stake in The Goldman Sachs Group in the second quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in The Goldman Sachs Group during the second quarter worth approximately $27,000. Versant Capital Management Inc lifted its position in shares of The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted 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 last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GS shares. BMO Capital Markets increased their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Citigroup boosted their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Evercore ISI increased their price target on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, Seaport Res Ptn cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $496.44.

Insider Activity

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares in the company, 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

NYSE:GS opened at $495.11 on Tuesday. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.26. The company has a market cap of $159.66 billion, a P/E ratio of 19.33, a P/E/G ratio of 0.78 and a beta of 1.36. 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 firm’s 50 day moving average is $492.41 and its two-hundred day moving average is $459.74.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.60 billion. Analysts expect that The Goldman Sachs Group, Inc. will post 35.43 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Friday, August 30th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

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.