Legacy Private Trust Co. Boosts Holdings in The Goldman Sachs Group, Inc. $GS

Legacy Private Trust Co. boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,623 shares of the investment management company’s stock after acquiring an additional 532 shares during the period. Legacy Private Trust Co.’s holdings in The Goldman Sachs Group were worth $8,226,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after buying an additional 508 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after buying an additional 58 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $583,000. Highview Capital Management LLC DE boosted its holdings in shares of The Goldman Sachs Group by 4.7% in the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company’s stock valued at $2,186,000 after acquiring an additional 171 shares during the period. Finally, Strategic Wealth Partners Ltd. grew its position in shares of The Goldman Sachs Group by 22.0% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 25,410 shares of the investment management company’s stock worth $14,550,000 after acquiring an additional 4,589 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,008 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were 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 owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John E. Waldron sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 over the last 90 days. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS opened at $780.87 on Monday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $793.17. The stock’s 50 day moving average is $728.85 and its two-hundred day moving average is $631.75. The firm has a market capitalization of $236.38 billion, a PE ratio of 17.21, a P/E/G ratio of 1.64 and a beta of 1.41. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS) last issued its 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 business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $8.62 EPS. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is 35.26%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley upped their price target on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a report on Thursday, July 17th. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the company an “outperform” rating in a research note on Thursday, July 10th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $660.00.

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.