IFG Advisory LLC Makes New $726,000 Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

IFG Advisory LLC acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,605 shares of the investment management company’s stock, valued at approximately $726,000.

A number of other institutional investors have also recently made changes to their positions in the business. Fulton Bank N.A. lifted its position in The Goldman Sachs Group by 0.8% in 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 buying an additional 22 shares during the last quarter. Jacobi Capital Management LLC increased its stake in The Goldman Sachs Group by 1.5% during the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after buying an additional 23 shares during the period. Pinnacle Wealth Planning Services Inc. increased its stake in The Goldman Sachs Group by 1.3% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 1,866 shares of the investment management company’s stock worth $779,000 after buying an additional 24 shares during the period. Powell Investment Advisors LLC lifted its holdings in The Goldman Sachs Group by 0.7% during the 1st quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock worth $1,603,000 after buying an additional 25 shares in the last quarter. Finally, Dumont & Blake Investment Advisors LLC boosted its position in The Goldman Sachs Group by 1.1% in the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 2,259 shares of the investment management company’s stock valued at $944,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $510.25 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $161.14 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 0.79 and a beta of 1.37. The stock’s 50-day moving average is $485.69 and its two-hundred day moving average is $444.43.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) 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 firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. Analysts predict that The Goldman Sachs Group, Inc. will post 35.07 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders 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 dividend yield of 2.35%. This is a boost 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 presently 42.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GS. Evercore ISI upped their price objective 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. Citigroup increased 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 objective on 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. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Seaport Res Ptn cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $495.94.

Insider Transactions 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 Goldman Sachs Group stock in a transaction that occurred 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 transaction, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s 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 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 Securities & Exchange Commission, which is accessible through this link. Also, 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 owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,013,500 shares of company stock worth $32,181,365. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group 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.