Truvvo Partners LLC lifted its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 11.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,272 shares of the investment management company’s stock after purchasing an additional 5,272 shares during the period. Goldman Sachs Group comprises approximately 6.1% of Truvvo Partners LLC’s holdings, making the stock its 4th biggest holding. Truvvo Partners LLC’s holdings in Goldman Sachs Group were worth $10,900,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Roundview Capital LLC grew its stake in Goldman Sachs Group by 23.3% in the 1st quarter. Roundview Capital LLC now owns 9,819 shares of the investment management company’s stock worth $1,885,000 after acquiring an additional 1,853 shares during the period. Busey Wealth Management purchased a new stake in Goldman Sachs Group in the 2nd quarter worth approximately $3,126,000. Edmond DE Rothschild Holding S.A. grew its stake in Goldman Sachs Group by 34.4% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,386 shares of the investment management company’s stock worth $266,000 after acquiring an additional 355 shares during the period. Northeast Financial Consultants Inc grew its stake in Goldman Sachs Group by 12.5% in the 1st quarter. Northeast Financial Consultants Inc now owns 11,886 shares of the investment management company’s stock worth $2,282,000 after acquiring an additional 1,317 shares during the period. Finally, Lee Danner & Bass Inc. grew its stake in Goldman Sachs Group by 10.7% in the 2nd quarter. Lee Danner & Bass Inc. now owns 20,255 shares of the investment management company’s stock worth $4,144,000 after acquiring an additional 1,955 shares during the period. 69.17% of the stock is owned by institutional investors and hedge funds.
Shares of GS traded up $1.23 during mid-day trading on Friday, reaching $219.97. The company had a trading volume of 283,746 shares, compared to its average volume of 1,793,145. The stock has a market cap of $77.53 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.79 and a beta of 1.34. The firm has a fifty day simple moving average of $206.50 and a 200-day simple moving average of $201.07. Goldman Sachs Group Inc has a fifty-two week low of $151.70 and a fifty-two week high of $238.52. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.78.
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 $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, August 29th. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. Goldman Sachs Group’s dividend payout ratio (DPR) is 19.79%.
Several analysts have commented on the stock. Odeon Capital Group cut shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. BMO Capital Markets lifted their target price on shares of Goldman Sachs Group to $273.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. TheStreet raised shares of Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods raised shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $225.00 to $260.00 in a research note on Friday, July 26th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of Goldman Sachs Group in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $240.92.
In other Goldman Sachs Group news, EVP Dane E. Holmes sold 3,165 shares of Goldman Sachs Group stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $212.15, for a total value of $671,454.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.41% of the stock is owned by company insiders.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in 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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