Quest Partners LLC Has $29,000 Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Quest Partners LLC lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 6,300.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64 shares of the investment management company’s stock after acquiring an additional 63 shares during the period. Quest Partners LLC’s holdings in The Goldman Sachs Group were worth $29,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Empowered Funds LLC raised its position in shares of The Goldman Sachs Group by 62.7% during the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after purchasing an additional 2,428 shares during the period. Duality Advisers LP bought a new stake in The Goldman Sachs Group during the 1st quarter valued at $1,388,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in The Goldman Sachs Group by 34.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after purchasing an additional 2,103 shares in the last quarter. Bell & Brown Wealth Advisors LLC acquired a new position in The Goldman Sachs Group during the fourth quarter worth $5,416,000. Finally, Axxcess Wealth Management LLC lifted its stake in shares of The Goldman Sachs Group by 25.5% in the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after buying an additional 2,442 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Down 1.1 %

The Goldman Sachs Group stock opened at $498.28 on Friday. The firm has a 50 day simple moving average of $491.96 and a 200 day simple moving average of $454.28. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. 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 capitalization of $160.68 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating the consensus estimate of $8.52 by $0.10. The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. On average, 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. Investors of record on Friday, August 30th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 annualized dividend and a yield of 2.41%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GS shares. UBS Group boosted their target price on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. Finally, Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average price target of $496.44.

Insider Activity at The Goldman Sachs Group

In other news, Director Thomas K. Montag sold 10,000 shares of the company’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 transaction, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated 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 $6,119,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

About The Goldman Sachs Group

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.