Fortis Capital Advisors LLC Acquires 576 Shares of The Goldman Sachs Group, Inc. $GS

Fortis Capital Advisors LLC boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 71.5% during the 2nd quarter, Holdings Channel reports. The firm owned 1,382 shares of the investment management company’s stock after buying an additional 576 shares during the period. Fortis Capital Advisors LLC’s holdings in The Goldman Sachs Group were worth $978,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock valued at $1,989,000 after buying an additional 508 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after buying an additional 58 shares in the last quarter. NBC Securities Inc. purchased a new position in The Goldman Sachs Group during the 1st quarter valued at approximately $240,000. Fermata Advisors LLC purchased a new position in The Goldman Sachs Group during the 1st quarter valued at approximately $306,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in The Goldman Sachs Group by 21.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,151 shares of the investment management company’s stock valued at $629,000 after buying an additional 202 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

GS opened at $790.32 on Friday. The business has a fifty day moving average of $755.05 and a 200 day moving average of $655.05. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. 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 stock has a market cap of $239.25 billion, a P/E ratio of 17.42, a PEG ratio of 1.62 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the business earned $8.62 EPS. The Goldman Sachs Group’s revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were issued a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, August 29th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a report on Monday. BMO Capital Markets initiated coverage on The Goldman Sachs Group in a report on Friday. They issued a “market perform” rating and a $785.00 target price for the company. Citigroup lifted their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. HSBC reiterated a “reduce” rating and issued a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $713.88.

Insiders Place Their Bets

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the sale, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at $86,463,679.48. The trade was a 7.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 in the last 90 days. 0.55% of the stock is owned by 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.