Modern Wealth Management LLC Increases Stock Holdings in The Goldman Sachs Group, Inc. $GS

Modern Wealth Management LLC lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 946 shares of the investment management company’s stock after buying an additional 49 shares during the quarter. Modern Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $517,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC increased its holdings in The Goldman Sachs Group by 63,864.7% during the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock worth $2,172,423,000 after purchasing an additional 3,970,467 shares during the last quarter. Northern Trust Corp increased its holdings in The Goldman Sachs Group by 1.2% during the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company’s stock worth $1,820,677,000 after purchasing an additional 40,125 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in The Goldman Sachs Group by 6.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company’s stock worth $1,138,527,000 after purchasing an additional 120,272 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in The Goldman Sachs Group by 15.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,963,836 shares of the investment management company’s stock worth $1,124,532,000 after purchasing an additional 256,204 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $780.87 on Monday. The company has a market capitalization of $236.38 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.41. The business’s 50-day moving average price is $728.85 and its two-hundred day moving average price is $631.75. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $793.17. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.62 EPS. Analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s payout ratio is presently 35.26%.

Analysts Set New Price Targets

GS has been the topic of several analyst reports. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. HSBC reiterated a “reduce” rating and set a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $660.00.

Insiders Place Their Bets

In related news, CFO Denis P. Coleman sold 7,463 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 over the last quarter. 0.55% of the stock is currently owned by company insiders.

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.