The Goldman Sachs Group, Inc. (NYSE:GS) Shares Purchased by Mittelman Wealth Management

Mittelman Wealth Management boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 37.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,429 shares of the investment management company’s stock after purchasing an additional 933 shares during the period. The Goldman Sachs Group comprises approximately 1.0% of Mittelman Wealth Management’s portfolio, making the stock its 24th largest position. Mittelman Wealth Management’s holdings in The Goldman Sachs Group were worth $1,551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GS. Capital World Investors boosted its stake in shares of The Goldman Sachs Group by 6.0% in the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock valued at $2,319,470,000 after purchasing an additional 338,181 shares during the period. Fisher Asset Management LLC boosted its position in The Goldman Sachs Group by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 5,516,093 shares of the investment management company’s stock valued at $2,127,944,000 after buying an additional 150,532 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of The Goldman Sachs Group by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after acquiring an additional 274,989 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of The Goldman Sachs Group by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 4,895,928 shares of the investment management company’s stock worth $2,044,980,000 after acquiring an additional 141,538 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at $1,903,374,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $484.70 on Thursday. The stock’s 50-day moving average is $491.10 and its two-hundred day moving average is $453.20. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The firm has a market cap of $156.30 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. Analysts predict that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $3.00 dividend. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s payout ratio is currently 46.86%.

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 dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GS. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Oppenheimer increased their price objective on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, Citigroup lifted their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $496.44.

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.