Resurgent Financial Advisors LLC Increases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Resurgent Financial Advisors LLC lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 61.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 523 shares of the investment management company’s stock after buying an additional 200 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in The Goldman Sachs Group were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GS. Jacobi Capital Management LLC grew its position in shares of The Goldman Sachs Group by 1.5% in the first quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock valued at $653,000 after purchasing an additional 23 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in The Goldman Sachs Group by 1.3% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,866 shares of the investment management company’s stock valued at $779,000 after buying an additional 24 shares during the period. Powell Investment Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 0.7% during the 1st quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock worth $1,603,000 after acquiring an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC boosted its position in shares of The Goldman Sachs Group by 1.1% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 2,259 shares of the investment management company’s stock worth $944,000 after acquiring an additional 25 shares during the last quarter. Finally, Optas LLC grew its holdings in The Goldman Sachs Group by 2.4% in the first quarter. Optas LLC now owns 1,072 shares of the investment management company’s stock valued at $448,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the topic of a number of research analyst reports. Bank of America lifted their price target on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on The Goldman Sachs Group from $461.00 to $464.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target for the company in a research note on Tuesday, April 16th. 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 research note on Tuesday, July 16th. Finally, Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.59.

The Goldman Sachs Group Stock Up 1.7 %

NYSE:GS traded up $8.29 on Tuesday, reaching $495.33. The stock had a trading volume of 1,094,524 shares, compared to its average volume of 2,318,530. The company has a 50-day moving average of $463.78 and a 200 day moving average of $421.98. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97. The stock has a market cap of $159.72 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 0.98 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 $509.48.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $3.00 dividend. The ex-dividend date is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.42%. 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 currently 42.95%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’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 transaction, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. Insiders sold a total of 4,018,500 shares of company stock worth $34,342,615 in the last 90 days. 0.54% of the stock is owned by corporate 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.