Acorn Financial Advisory Services Inc. ADV Grows Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Acorn Financial Advisory Services Inc. ADV boosted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,031 shares of the investment management company’s stock after buying an additional 42 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in The Goldman Sachs Group were worth $466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Waldron Private Wealth LLC increased its stake in The Goldman Sachs Group by 0.8% in the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after purchasing an additional 20 shares during the last quarter. Fulton Bank N.A. grew its position in The Goldman Sachs Group by 0.8% during the second quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock valued at $1,233,000 after acquiring an additional 22 shares during the period. Jacobi Capital Management LLC grew its position in The Goldman Sachs Group by 1.5% during the first quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock valued at $653,000 after acquiring an additional 23 shares during the period. Pinnacle Wealth Planning Services Inc. grew its position in The Goldman Sachs Group by 1.3% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,866 shares of the investment management company’s stock valued at $779,000 after acquiring an additional 24 shares during the period. Finally, Powell Investment Advisors LLC grew its position in The Goldman Sachs Group by 0.7% during the first quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock valued at $1,603,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Citigroup boosted their price target on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. BMO Capital Markets boosted their price target on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Wells Fargo & Company upped their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Finally, Evercore ISI upped their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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 stock was 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 directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,013,500 shares of company stock valued at $32,181,365. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Trading Up 0.6 %

Shares of NYSE GS opened at $510.25 on Tuesday. The stock’s 50 day moving average price is $486.66 and its two-hundred day moving average price is $445.78. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $517.26. The stock has a market capitalization of $161.14 billion, a P/E ratio of 19.92, a PEG ratio of 0.79 and a beta of 1.37. 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 (NYSE:GS) last announced its quarterly 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 return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.60 billion. On average, analysts anticipate 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.35%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is 42.95%.

The Goldman Sachs Group Company 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.