Signet Financial Management LLC Boosts Position in The Goldman Sachs Group, Inc. $GS

Signet Financial Management LLC grew its stake in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 109.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,240 shares of the investment management company’s stock after buying an additional 2,739 shares during the quarter. Signet Financial Management LLC’s holdings in The Goldman Sachs Group were worth $4,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in The Goldman Sachs Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock worth $25,503,685,000 after purchasing an additional 418,820 shares in the last quarter. State Street Corp grew its holdings in shares of The Goldman Sachs Group by 2.1% during the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after buying an additional 394,198 shares in the last quarter. Fisher Asset Management LLC grew its stake in The Goldman Sachs Group by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock valued at $5,952,199,000 after acquiring an additional 110,134 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of The Goldman Sachs Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock valued at $5,896,795,000 after purchasing an additional 45,266 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of The Goldman Sachs Group by 3.4% in the 4th quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company’s stock worth $5,254,692,000 after acquiring an additional 194,109 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

More The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

The Goldman Sachs Group Trading Up 9.2%

Shares of GS stock opened at $1,142.58 on Wednesday. The Goldman Sachs Group, Inc. has a 1-year low of $691.30 and a 1-year high of $1,143.84. The firm has a market cap of $337.07 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 1.34 and a beta of 1.30. The company has a 50-day moving average of $1,024.94 and a two-hundred day moving average of $941.58. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63.

The Goldman Sachs Group (NYSE:GSGet Free Report) last released its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The business had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business’s revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm earned $10.91 EPS. On average, analysts predict that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a dividend of $5.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.89%.

Insider Transactions at The Goldman Sachs Group

In related news, insider Kathryn H. Ruemmler sold 14,292 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. This trade represents a 47.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the transaction, the chief financial officer directly owned 31,070 shares of the company’s stock, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 33,681 shares of company stock valued at $31,737,875. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Citigroup increased their price target on shares of The Goldman Sachs Group from $930.00 to $1,100.00 and gave the company a “neutral” rating in a research note on Tuesday, June 23rd. Dbs Bank raised their price target on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Jefferies Financial Group decreased their price objective on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Rothschild & Co Redburn increased their price objective on The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Ten research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $1,005.33.

Get Our Latest Stock Analysis on The Goldman Sachs Group

The Goldman Sachs Group Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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

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