Element Capital Management LLC Purchases Shares of 23,627 The Goldman Sachs Group, Inc. (NYSE:GS)

Element Capital Management LLC acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,627 shares of the investment management company’s stock, valued at approximately $10,687,000. The Goldman Sachs Group makes up 0.8% of Element Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding.

Several other institutional investors have also recently modified their holdings of GS. First Personal Financial Services purchased a new position in The Goldman Sachs Group in the 1st quarter worth $25,000. POM Investment Strategies LLC bought a new position in shares of The Goldman Sachs Group during the second quarter valued at about $26,000. Headlands Technologies LLC purchased a new position in shares of The Goldman Sachs Group in the second quarter worth about $27,000. Versant Capital Management Inc lifted its stake in shares of The Goldman Sachs Group by 106.3% in the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 34 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GS. Citigroup lifted their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Oppenheimer upped their price target on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Evercore ISI upped their price objective on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley increased their target price on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $496.44.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now owns 12,450 shares in the company, valued at $6,287,748. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $478.99 on Friday. The business’s fifty day moving average is $490.33 and its 200 day moving average is $451.20. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock has a market cap of $154.46 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.73 and a beta of 1.36. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $517.26.

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 for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. Research analysts expect that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.51%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

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.