Asset Dedication LLC Acquires 312 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Asset Dedication LLC grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,126 shares of the investment management company’s stock after purchasing an additional 312 shares during the period. Asset Dedication LLC’s holdings in The Goldman Sachs Group were worth $5,485,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GS. Strategic Financial Concepts LLC bought a new position in The Goldman Sachs Group in the second quarter valued at about $138,000. Norden Group LLC grew its holdings in shares of The Goldman Sachs Group by 23.1% during the 2nd quarter. Norden Group LLC now owns 649 shares of the investment management company’s stock valued at $293,000 after purchasing an additional 122 shares during the last quarter. Oxbow Advisors LLC increased its position in The Goldman Sachs Group by 4.3% during the 2nd quarter. Oxbow Advisors LLC now owns 1,221 shares of the investment management company’s stock worth $552,000 after purchasing an additional 50 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in The Goldman Sachs Group by 39.2% in the 2nd quarter. Great Lakes Advisors LLC now owns 8,754 shares of the investment management company’s stock valued at $3,960,000 after purchasing an additional 2,467 shares during the last quarter. Finally, Wakefield Asset Management LLLP acquired a new stake in The Goldman Sachs Group in the second quarter valued at approximately $3,333,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $461.00 to $464.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. UBS Group boosted their price target on The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Barclays raised their price objective on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $495.94.

The Goldman Sachs Group Stock Down 1.7 %

Shares of NYSE:GS opened at $479.61 on Friday. The business’s 50-day moving average is $489.33 and its 200-day moving average is $448.20. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The company has a market capitalization of $154.66 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 0.79 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.52 by $0.10. The firm 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 10.56% and a net margin of 9.36%. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 35.07 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.50%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

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.