New Century Financial Group LLC Acquires New Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

New Century Financial Group LLC acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 787 shares of the investment management company’s stock, valued at approximately $356,000.

Several other hedge funds have also added to or reduced their stakes in GS. 3Chopt Investment Partners LLC bought a new position in shares of The Goldman Sachs Group during the second quarter valued at $252,000. Granite Bay Wealth Management LLC purchased a new stake in The Goldman Sachs Group during the 2nd quarter valued at about $5,529,000. Advisory Alpha LLC bought a new stake in The Goldman Sachs Group during the 2nd quarter valued at about $200,000. Truist Financial Corp raised its holdings in The Goldman Sachs Group by 3.1% in the second quarter. Truist Financial Corp now owns 563,989 shares of the investment management company’s stock worth $255,103,000 after buying an additional 16,996 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its stake in shares of The Goldman Sachs Group by 1.0% in the second quarter. Pathway Financial Advisers LLC now owns 4,376 shares of the investment management company’s stock worth $1,956,000 after buying an additional 43 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on Tuesday, July 16th. The shares were 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the sale, 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. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Down 0.9 %

Shares of The Goldman Sachs Group stock opened at $490.41 on Wednesday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $158.14 billion, a PE ratio of 19.15, a P/E/G ratio of 0.78 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26. The company’s fifty day simple moving average is $492.37 and its 200-day simple moving average is $460.46.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $12.60 billion. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 35.43 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid 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 of this dividend was Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.45%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GS shares. Citigroup raised their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Evercore ISI lifted their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Oppenheimer increased 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. Finally, Morgan Stanley boosted their target price on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.