NewSquare Capital LLC Boosts Stock Position in The Goldman Sachs Group, Inc. $GS

NewSquare Capital LLC lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 88.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 230 shares of the investment management company’s stock after purchasing an additional 108 shares during the period. NewSquare Capital LLC’s holdings in The Goldman Sachs Group were worth $163,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GS. Canada Pension Plan Investment Board raised its stake in The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock worth $286,418,000 after buying an additional 116,535 shares in the last quarter. Bank of New York Mellon Corp raised its stake in The Goldman Sachs Group by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock worth $2,392,124,000 after buying an additional 157,473 shares in the last quarter. Blueshift Asset Management LLC raised its stake in The Goldman Sachs Group by 161.8% in the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock worth $576,000 after buying an additional 652 shares in the last quarter. Jump Financial LLC bought a new position in shares of The Goldman Sachs Group during the first quarter valued at approximately $9,596,000. Finally, Wells Trecaso Financial Group LLC increased its stake in shares of The Goldman Sachs Group by 0.5% during the second quarter. Wells Trecaso Financial Group LLC now owns 21,534 shares of the investment management company’s stock valued at $15,240,000 after purchasing an additional 108 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares in the company, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Up 0.7%

NYSE:GS opened at $791.23 on Wednesday. The company’s 50 day moving average price is $775.64 and its 200-day moving average price is $696.77. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The stock has a market cap of $239.52 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.43 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter in the prior year, the company posted $8.40 earnings per share. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Morgan Stanley decreased their target price on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $750.00 target price (up previously from $625.00) on shares of The Goldman Sachs Group in a research note on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $779.50.

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.