Baxter Bros Inc. Raises Position in The Goldman Sachs Group, Inc. $GS

Baxter Bros Inc. grew its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,322 shares of the investment management company’s stock after acquiring an additional 272 shares during the period. The Goldman Sachs Group comprises 1.3% of Baxter Bros Inc.’s portfolio, making the stock its 22nd largest holding. Baxter Bros Inc.’s holdings in The Goldman Sachs Group were worth $10,844,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Beaumont Asset Management L.L.C. boosted its holdings in shares of The Goldman Sachs Group by 1.1% in the second quarter. Beaumont Asset Management L.L.C. now owns 2,750 shares of the investment management company’s stock valued at $1,946,000 after acquiring an additional 29 shares in the last quarter. Hager Investment Management Services LLC boosted its holdings in shares of The Goldman Sachs Group by 11.9% in the second quarter. Hager Investment Management Services LLC now owns 169 shares of the investment management company’s stock valued at $120,000 after acquiring an additional 18 shares in the last quarter. Cohen Investment Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 2.0% in the second quarter. Cohen Investment Advisors LLC now owns 8,530 shares of the investment management company’s stock valued at $6,037,000 after acquiring an additional 171 shares in the last quarter. Trifecta Capital Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 0.3% in the second quarter. Trifecta Capital Advisors LLC now owns 12,956 shares of the investment management company’s stock valued at $9,170,000 after acquiring an additional 35 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of The Goldman Sachs Group by 4.7% in the second quarter. Maryland State Retirement & Pension System now owns 14,799 shares of the investment management company’s stock valued at $10,474,000 after acquiring an additional 670 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity

In other news, CFO Denis P. Coleman sold 7,463 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares of the company’s stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,323 shares of company stock worth $28,111,828. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $777.49 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The stock has a market cap of $235.36 billion, a P/E ratio of 17.13, a PEG ratio of 1.49 and a beta of 1.42. The company has a 50-day moving average of $758.55 and a two-hundred day moving average of $659.72. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.62 earnings per share. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a $4.00 dividend. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.26%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GS. BMO Capital Markets began coverage on shares of The Goldman Sachs Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 target price on the stock. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a research note on Thursday, July 17th. Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Royal Bank Of Canada raised their price objective on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. Five research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and an average target price of $727.31.

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.