20,224 Shares in The Goldman Sachs Group, Inc. (NYSE:GS) Acquired by AMJ Financial Wealth Management

AMJ Financial Wealth Management bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,224 shares of the investment management company’s stock, valued at approximately $9,148,000. The Goldman Sachs Group comprises 2.8% of AMJ Financial Wealth Management’s portfolio, making the stock its 12th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Waldron Private Wealth LLC increased its stake in The Goldman Sachs Group by 0.8% in the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after buying an additional 20 shares during the period. Fulton Bank N.A. increased its stake in The Goldman Sachs Group by 0.8% in the 2nd quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock valued at $1,233,000 after buying an additional 22 shares during the period. Nicholas Hoffman & Company LLC. increased its stake in The Goldman Sachs Group by 1.1% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 1,975 shares of the investment management company’s stock valued at $893,000 after buying an additional 22 shares during the period. Jacobi Capital Management LLC increased its stake in The Goldman Sachs Group by 1.5% in the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock valued at $653,000 after buying an additional 23 shares during the period. Finally, Mayflower Financial Advisors LLC increased its stake in The Goldman Sachs Group by 1.2% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 2,019 shares of the investment management company’s stock valued at $913,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GS shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods boosted their target price on shares of 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. JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a research report on Monday. Oppenheimer boosted their target price on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, BMO Capital Markets boosted their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $496.44.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock traded down $17.81 during mid-day trading on Tuesday, reaching $470.76. The company had a trading volume of 317,858 shares, compared to its average volume of 2,252,299. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $517.26. The company has a 50 day moving average of $489.83 and a 200-day moving average of $449.31. The firm has a market cap of $151.80 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 0.74 and a beta of 1.36.

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 firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 35.49 EPS 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. Shareholders of record on Friday, August 30th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 dividend on an annualized basis and a yield of 2.55%. The Goldman Sachs Group’s dividend payout ratio is 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on 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 transaction, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on 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 transaction, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the transaction, the insider now owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. Insiders sold a total of 4,013,500 shares of company stock valued at $32,181,365 in the last ninety days. Company insiders own 0.54% of the company’s stock.

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.