OFI Invest Asset Management Grows Holdings in The Goldman Sachs Group, Inc. $GS

OFI Invest Asset Management lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 10.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,580 shares of the investment management company’s stock after buying an additional 5,644 shares during the quarter. OFI Invest Asset Management’s holdings in The Goldman Sachs Group were worth $41,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GS. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at about $25,000. Dogwood Wealth Management LLC grew its holdings in shares of The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after acquiring an additional 36 shares during the period. American Capital Advisory LLC bought a new stake in shares of The Goldman Sachs Group in the first quarter worth $29,000. Cornerstone Planning Group LLC increased its position in shares of The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 23 shares during the last quarter. Finally, Ridgewood Investments LLC lifted its stake in shares of The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

GS stock opened at $765.14 on Friday. 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 business’s fifty day simple moving average is $760.79 and its two-hundred day simple moving average is $662.94. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The firm has a market cap of $231.62 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.44 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly 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 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 the consensus estimate of $13.53 billion. During the same quarter in the prior year, the company earned $8.62 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. Analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

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

Insiders Place Their Bets

In other news, EVP John F.W. Rogers sold 6,008 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the chief financial officer owned 18,594 shares of the company’s stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 in the last three months. Insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GS. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. JMP Securities reiterated a “market perform” rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, The Goldman Sachs Group has an average 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.