Fiduciary Financial Group LLC Buys Shares of 1,115 The Goldman Sachs Group, Inc. (NYSE:GS)

Fiduciary Financial Group LLC purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,115 shares of the investment management company’s stock, valued at approximately $504,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GS. International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group during the first quarter worth about $1,903,374,000. Norges Bank purchased a new stake in The Goldman Sachs Group during the 4th quarter worth approximately $1,120,119,000. AMF Tjanstepension AB lifted its holdings in The Goldman Sachs Group by 1,102.4% during the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock worth $366,780,000 after buying an additional 743,402 shares in the last quarter. Wellington Management Group LLP boosted its position in The Goldman Sachs Group by 27.0% in the 4th quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after buying an additional 464,954 shares during the period. Finally, Verity & Verity LLC grew its stake in shares of The Goldman Sachs Group by 26,378.2% in the first quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock worth $170,000 after acquiring an additional 406,224 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GS has been the topic of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Citigroup lifted their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. BMO Capital Markets upped their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Evercore ISI lifted their price target on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Finally, Oppenheimer boosted their price target on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $495.94.

The Goldman Sachs Group Stock Performance

GS traded up $5.24 on Friday, hitting $504.26. 1,504,729 shares of the company traded hands, compared to its average volume of 2,331,405. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26. The company has a 50 day moving average of $474.07 and a 200-day moving average of $434.88. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $162.61 billion, a PE ratio of 19.63, a PEG ratio of 0.99 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.26% and a net margin of 9.36%. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 36.74 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $3.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. Insiders sold a total of 4,013,500 shares of company stock worth $32,181,365 over the last 90 days. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group 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.