Legacy Private Trust Co. Increases Stock Holdings in The Goldman Sachs Group, Inc. $GS

Legacy Private Trust Co. increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,623 shares of the investment management company’s stock after buying an additional 532 shares during the period. Legacy Private Trust Co.’s holdings in The Goldman Sachs Group were worth $8,226,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of The Goldman Sachs Group during the 1st quarter worth approximately $25,000. Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group in the 4th quarter valued at approximately $31,000. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter valued at $29,000. Godsey & Gibb Inc. grew its holdings in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after buying an additional 34 shares during the last quarter. Finally, Lowe Wealth Advisors LLC increased its position in The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock worth $35,000 after buying an additional 49 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Down 0.5%

Shares of NYSE GS opened at $780.87 on Monday. The stock has a market capitalization of $236.38 billion, a PE ratio of 17.21, a P/E/G ratio of 1.64 and a beta of 1.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The firm has a fifty day moving average of $728.85 and a 200-day moving average of $631.75. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $793.17.

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

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $4.00 dividend. 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 an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GS shares. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Morgan Stanley raised their price target on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. HSBC reissued a “reduce” rating and issued a $627.00 price objective (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Zacks Research upgraded shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Finally, JMP Securities reiterated a “market perform” rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $660.00.

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the sale, the chief financial officer owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the transaction, the chief operating officer owned 106,268 shares in the company, valued at $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock worth $28,111,828 over the last 90 days. Company insiders own 0.55% of the company’s stock.

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.