PBMares Wealth Management LLC Invests $212,000 in The Goldman Sachs Group, Inc. $GS

PBMares Wealth Management LLC purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 300 shares of the investment management company’s stock, valued at approximately $212,000.

A number of other hedge funds also recently modified their holdings of the business. O ROURKE & COMPANY Inc raised its position in shares of The Goldman Sachs Group by 1.5% during the second quarter. O ROURKE & COMPANY Inc now owns 3,530 shares of the investment management company’s stock worth $2,498,000 after purchasing an additional 51 shares during the period. Generali Investments CEE investicni spolecnost a.s. raised its position in shares of The Goldman Sachs Group by 2.4% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 7,461 shares of the investment management company’s stock worth $5,281,000 after purchasing an additional 173 shares during the period. Pennsylvania Capital Management Inc. ADV acquired a new stake in shares of The Goldman Sachs Group during the second quarter worth about $216,000. Union Bancaire Privee UBP SA raised its position in shares of The Goldman Sachs Group by 16.8% during the second quarter. Union Bancaire Privee UBP SA now owns 26,998 shares of the investment management company’s stock worth $19,108,000 after purchasing an additional 3,880 shares during the period. Finally, Trivium Point Advisory LLC raised its position in shares of The Goldman Sachs Group by 83.3% during the second quarter. Trivium Point Advisory LLC now owns 1,694 shares of the investment management company’s stock worth $1,199,000 after purchasing an additional 770 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Buying and Selling

In other news, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the sale, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 in the last ninety days. 0.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an “equal weight” rating in a research report on Monday. Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. 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. Finally, Citigroup increased their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $690.27.

The Goldman Sachs Group Stock Down 1.0%

GS stock opened at $796.20 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The business has a 50 day moving average price of $751.18 and a two-hundred day moving average price of $650.88. The company has a market cap of $241.02 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 1.67 and a beta of 1.41. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The firm 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 business’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $8.62 earnings per share. Analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $4.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is 35.26%.

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.