Boltwood Capital Management Makes New Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Boltwood Capital Management purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 435 shares of the investment management company’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GS. Semmax Financial Advisors Inc. acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $26,000. POM Investment Strategies LLC acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $26,000. Headlands Technologies LLC acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $27,000. SJS Investment Consulting Inc. boosted its holdings in The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated 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 transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $492.11 on Thursday. The stock has a market cap of $158.69 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.78 and a beta of 1.36. The business has a fifty day simple moving average of $492.48 and a 200-day simple moving average of $460.69. 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, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data 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 firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 35.43 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a dividend of $3.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

Analyst Upgrades and Downgrades

GS has been the topic of a number of research analyst reports. Barclays increased their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. BMO Capital Markets raised their price target on 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. Evercore ISI raised their price target on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, UBS Group raised their price target on The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $497.56.

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.