Simplicity Wealth LLC Acquires 538 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Simplicity Wealth LLC increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,841 shares of the investment management company’s stock after acquiring an additional 538 shares during the period. Simplicity Wealth LLC’s holdings in The Goldman Sachs Group were worth $5,808,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth approximately $1,903,374,000. Norges Bank bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $1,120,119,000. AMF Tjanstepension AB lifted its stake in shares of The Goldman Sachs Group by 1,102.4% in the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock worth $366,780,000 after buying an additional 743,402 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of The Goldman Sachs Group by 27.0% in the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after buying an additional 464,954 shares in the last quarter. Finally, Verity & Verity LLC lifted its stake in shares of The Goldman Sachs Group by 26,378.2% in the first quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock worth $170,000 after buying an additional 406,224 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. 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. HSBC boosted their price objective on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Argus raised shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a report on Tuesday, April 16th. Finally, Citigroup boosted their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $495.94.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, 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 in the company, valued at $82,299,679.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 value of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The disclosure for this sale can be found here. Insiders sold 4,013,500 shares of company stock worth $32,181,365 over the last 90 days. 0.54% of the stock is owned by insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded up $12.76 during midday trading on Thursday, reaching $485.77. 1,928,022 shares of the company were exchanged, compared to its average volume of 2,360,469. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97. The business’s fifty day moving average is $469.78 and its two-hundred day moving average is $430.62. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $517.26. The stock has a market cap of $156.64 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, topping 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 10.26%. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 36.74 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 annualized dividend and a yield of 2.47%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

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.