Focus Financial Network Inc. Buys 26 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Focus Financial Network Inc. increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,048 shares of the investment management company’s stock after purchasing an additional 26 shares during the quarter. Focus Financial Network Inc.’s holdings in The Goldman Sachs Group were worth $1,028,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GS. First Personal Financial Services acquired a new position in The Goldman Sachs Group in the first quarter valued at approximately $25,000. SJS Investment Consulting Inc. increased its position in shares of The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Versant Capital Management Inc increased its position in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after acquiring an additional 34 shares in the last quarter. First United Bank & Trust bought a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $26,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter worth $31,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Performance

NYSE GS traded down $7.34 during trading on Tuesday, reaching $497.34. 1,806,556 shares of the company’s stock were exchanged, compared to its average volume of 2,321,946. The business has a 50 day moving average price of $476.07 and a 200-day moving average price of $437.30. The stock has a market capitalization of $160.37 billion, a P/E ratio of 19.55, a PEG ratio of 0.99 and a beta of 1.37. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 0.74. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.26.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.26% and a net margin of 9.36%. The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 36.74 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Friday, August 30th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,500 shares of the business’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 completion of the sale, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Thomas K. Montag sold 10,000 shares of the business’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 value of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Brian J. Lee sold 3,500 shares of the business’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 completion of the sale, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The disclosure for this sale can be found here. Insiders sold a total of 4,013,500 shares of company stock worth $32,181,365 over the last quarter. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GS. BMO Capital Markets increased their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Oppenheimer raised their target price on shares of 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. Barclays boosted their price target on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $495.94.

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.