Oppenheimer Asset Management Inc. Buys 1,046 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Oppenheimer Asset Management Inc. lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 11.3% during the second quarter, HoldingsChannel.com reports. The firm owned 10,311 shares of the investment management company’s stock after purchasing an additional 1,046 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $4,664,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $27,000. First Personal Financial Services bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $25,000. SJS Investment Consulting Inc. boosted its position in shares of The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Insider Transactions at The Goldman Sachs Group

In other news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The transaction 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, insider Brian J. Lee sold 3,500 shares of the stock in a transaction 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 owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

The Goldman Sachs Group Trading Up 1.0 %

NYSE:GS opened at $478.99 on Monday. 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 firm has a market capitalization of $154.46 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $517.26. The business has a fifty day moving average price of $490.33 and a 200-day moving average price of $451.61.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping the consensus estimate of $8.52 by $0.10. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.51%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is 46.86%.

Wall Street Analysts Forecast Growth

GS has been the topic of several analyst reports. BMO Capital Markets upped their price objective 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. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company 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 price objective on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Finally, Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $496.44.

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.