FineMark National Bank & Trust Acquires 255 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

FineMark National Bank & Trust raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,264 shares of the investment management company’s stock after buying an additional 255 shares during the period. FineMark National Bank & Trust’s holdings in The Goldman Sachs Group were worth $1,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GS. Stablepoint Partners LLC raised its holdings in The Goldman Sachs Group by 3.0% in the 2nd quarter. Stablepoint Partners LLC now owns 816 shares of the investment management company’s stock worth $402,000 after purchasing an additional 24 shares during the period. Pursue Wealth Partners LLC increased its position in The Goldman Sachs Group by 20.5% in the second quarter. Pursue Wealth Partners LLC now owns 1,325 shares of the investment management company’s stock worth $599,000 after buying an additional 225 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of The Goldman Sachs Group by 78.4% in the second quarter. Larson Financial Group LLC now owns 1,368 shares of the investment management company’s stock worth $619,000 after buying an additional 601 shares during the period. Simon Quick Advisors LLC grew its stake in shares of The Goldman Sachs Group by 50.0% during the 2nd quarter. Simon Quick Advisors LLC now owns 1,308 shares of the investment management company’s stock valued at $592,000 after acquiring an additional 436 shares during the period. Finally, Weaver Capital Management LLC bought a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $392,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 0.6 %

Shares of GS opened at $487.80 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $157.30 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 0.79 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The business’s 50 day simple moving average is $488.78 and its 200-day simple moving average is $447.10.

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, beating 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 10.56%. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. As a group, equities analysts expect 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 business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 annualized dividend and a yield of 2.46%. 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 currently 46.86%.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value 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 Securities & Exchange Commission, which is available through the SEC website. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s 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 transaction, the director now owns 12,450 shares in the company, valued at $6,287,748. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction dated 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. Insiders have sold 4,013,500 shares of company stock valued at $32,181,365 over the last ninety days. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $461.00 to $464.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. BMO Capital Markets upped their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Oppenheimer raised their price target on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, UBS Group boosted their price objective on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $495.94.

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.