Ballentine Partners LLC Purchases 570 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Ballentine Partners LLC grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.9% in the second quarter, Holdings Channel reports. The fund owned 7,794 shares of the investment management company’s stock after buying an additional 570 shares during the quarter. Ballentine Partners LLC’s holdings in The Goldman Sachs Group were worth $3,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Caprock Group LLC raised its stake in The Goldman Sachs Group by 145.7% during the second quarter. Caprock Group LLC now owns 18,219 shares of the investment management company’s stock valued at $8,241,000 after purchasing an additional 10,804 shares in the last quarter. Orca Investment Management LLC lifted its holdings in shares of The Goldman Sachs Group by 9.2% in the 2nd quarter. Orca Investment Management LLC now owns 1,381 shares of the investment management company’s stock valued at $625,000 after acquiring an additional 116 shares during the last quarter. Anchor Capital Advisors LLC grew its position in The Goldman Sachs Group by 10.0% in the second quarter. Anchor Capital Advisors LLC now owns 48,246 shares of the investment management company’s stock worth $21,823,000 after acquiring an additional 4,402 shares in the last quarter. Certuity LLC lifted its stake in shares of The Goldman Sachs Group by 36.7% in the 2nd quarter. Certuity LLC now owns 1,162 shares of the investment management company’s stock valued at $525,000 after purchasing an additional 312 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of The Goldman Sachs Group by 6,702.1% in the 2nd quarter. Acadian Asset Management LLC now owns 28,637 shares of the investment management company’s stock worth $12,949,000 after purchasing an additional 28,216 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GS. Barclays increased their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Evercore ISI raised their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $461.00 to $464.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $495.94.

The Goldman Sachs Group Stock Down 1.7 %

The Goldman Sachs Group stock traded down $8.27 during midday trading on Friday, hitting $479.61. 1,995,561 shares of the company’s stock were exchanged, compared to its average volume of 2,266,371. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26. 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 cap of $154.66 billion, a PE ratio of 18.73, a P/E/G ratio of 0.79 and a beta of 1.36. The firm has a 50-day moving average of $489.33 and a two-hundred day moving average of $448.20.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 35.07 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.50%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s payout ratio is presently 46.86%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated 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 transaction, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the sale, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value 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 disclosure for this sale can be found here. Insiders sold 4,013,500 shares of company stock worth $32,181,365 in the last three months. 0.54% of the stock is owned by insiders.

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.