Seven Mile Advisory Acquires 26 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Seven Mile Advisory boosted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.1% in the second quarter, HoldingsChannel reports. The firm owned 666 shares of the investment management company’s stock after purchasing an additional 26 shares during the quarter. Seven Mile Advisory’s holdings in The Goldman Sachs Group were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GS. First Personal Financial Services bought a new position in shares of The Goldman Sachs Group during the first quarter worth approximately $25,000. POM Investment Strategies LLC acquired a new position in The Goldman Sachs Group in the 2nd quarter valued at $26,000. Headlands Technologies LLC bought a new position in The Goldman Sachs Group during the 2nd quarter worth $27,000. Versant Capital Management Inc lifted its holdings 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 buying an additional 34 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in shares of 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 period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Goldman Sachs Group

In related news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction on 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 owns 12,450 shares of the company’s stock, valued at $6,287,748. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the transaction, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The transaction was disclosed in a document filed with the SEC, 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 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 directly owns 12,095 shares in the company, valued at $6,119,949.05. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Up 1.0 %

Shares of GS opened at $478.99 on Friday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $517.26. The stock has a market capitalization of $154.46 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.73 and a beta of 1.36. The stock has a fifty day moving average of $490.33 and a 200-day moving average of $451.20.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, beating the consensus estimate of $8.52 by $0.10. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 2.51%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 46.86%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods boosted their price target on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Wells Fargo & Company upped their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.