Cornerstone Advisors LLC Purchases 3,500 Shares of The Goldman Sachs Group, Inc. $GS

Cornerstone Advisors LLC lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 17.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,000 shares of the investment management company’s stock after acquiring an additional 3,500 shares during the quarter. Cornerstone Advisors LLC’s holdings in The Goldman Sachs Group were worth $16,278,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd purchased a new stake in The Goldman Sachs Group during the first quarter valued at about $25,000. Dogwood Wealth Management LLC increased its stake 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 purchasing an additional 36 shares in the last quarter. Clearstead Trust LLC bought a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $31,000. Ridgewood Investments LLC lifted its stake in shares of The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after buying an additional 17 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction 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 sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $790.56 on Friday. The stock’s 50-day simple moving average is $785.07 and its two-hundred day simple moving average is $710.58. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $841.28. The firm has a market capitalization of $237.11 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.43 and a beta of 1.41. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping the consensus estimate of $10.27 by $1.98. The company had revenue of $15.18 billion during the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The Goldman Sachs Group’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.40 earnings per share. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GS. Royal Bank Of Canada reissued a “neutral” rating and set a $843.00 target price on shares of The Goldman Sachs Group in a report on Tuesday, October 14th. UBS Group lifted their price target on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft increased their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Evercore ISI lifted their target price on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $786.00.

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.