Chesapeake Wealth Management Takes $201,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Chesapeake Wealth Management purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 445 shares of the investment management company’s stock, valued at approximately $201,000.

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

The Goldman Sachs Group Stock Down 1.1 %

GS opened at $498.43 on Friday. 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 company has a market capitalization of $160.73 billion, a PE ratio of 19.46, a P/E/G ratio of 0.73 and a beta of 1.36. The stock’s fifty day moving average is $491.96 and its 200-day moving average is $454.73. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $517.26.

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

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.41%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Insiders Place Their Bets

In other 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 transaction of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other The Goldman Sachs Group 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 sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the transaction, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GS shares. Morgan Stanley boosted their price objective on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, BMO Capital Markets raised their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average 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.