Independent Advisor Alliance Increases Stake in Goldman Sachs Group Inc (GS)

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Independent Advisor Alliance grew its position in Goldman Sachs Group Inc (NYSE:GS) by 11.7% in the second quarter, Holdings Channel reports. The fund owned 2,555 shares of the investment management company’s stock after acquiring an additional 267 shares during the quarter. Independent Advisor Alliance’s holdings in Goldman Sachs Group were worth $504,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in GS. Fort Washington Investment Advisors Inc. OH increased its holdings in Goldman Sachs Group by 0.8% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 424,393 shares of the investment management company’s stock valued at $106,888,000 after purchasing an additional 3,572 shares during the period. FDx Advisors Inc. increased its holdings in Goldman Sachs Group by 11.4% in the first quarter. FDx Advisors Inc. now owns 8,488 shares of the investment management company’s stock valued at $2,138,000 after purchasing an additional 871 shares during the period. Daiwa Securities Group Inc. increased its holdings in Goldman Sachs Group by 14.2% in the first quarter. Daiwa Securities Group Inc. now owns 65,000 shares of the investment management company’s stock valued at $16,371,000 after purchasing an additional 8,100 shares during the period. Morse Asset Management Inc increased its holdings in Goldman Sachs Group by 475.9% in the first quarter. Morse Asset Management Inc now owns 5,730 shares of the investment management company’s stock valued at $1,443,000 after purchasing an additional 4,735 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in Goldman Sachs Group in the first quarter valued at $3,265,000. Institutional investors own 71.41% of the company’s stock.

Shares of Goldman Sachs Group stock opened at $235.78 on Tuesday. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.90 and a quick ratio of 0.90. Goldman Sachs Group Inc has a 1-year low of $214.64 and a 1-year high of $275.31. The stock has a market cap of $88.11 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.74 and a beta of 1.31.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 17th. The investment management company reported $5.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.66 by $1.32. Goldman Sachs Group had a return on equity of 13.58% and a net margin of 15.72%. The firm had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $8.74 billion. During the same period last year, the business posted $3.95 EPS. The business’s revenue was up 19.2% compared to the same quarter last year. sell-side analysts forecast that Goldman Sachs Group Inc will post 24.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, August 30th will be paid a $0.80 dividend. The ex-dividend date is Wednesday, August 29th. This represents a $3.20 annualized dividend and a dividend yield of 1.36%. Goldman Sachs Group’s dividend payout ratio is presently 16.19%.

GS has been the subject of a number of recent research reports. Oppenheimer increased their price objective on Goldman Sachs Group from $304.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, July 18th. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Tuesday, June 19th. JPMorgan Chase & Co. restated a “buy” rating and issued a $280.00 price objective on shares of Goldman Sachs Group in a report on Tuesday, July 17th. ValuEngine downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating for the company in a report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Goldman Sachs Group currently has an average rating of “Hold” and a consensus target price of $273.41.

In other news, insider David M. Solomon sold 8,382 shares of the firm’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $232.08, for a total value of $1,945,294.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David M. Solomon sold 8,488 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $237.92, for a total value of $2,019,464.96. The disclosure for this sale can be found here. Company insiders own 1.71% of the company’s stock.

Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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Institutional Ownership by Quarter for Goldman Sachs Group (NYSE:GS)

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