Burney Co. Purchases 8,734 Shares of The Goldman Sachs Group, Inc. $GS

Burney Co. increased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 111.9% in the first quarter, Holdings Channel.com reports. The firm owned 16,536 shares of the investment management company’s stock after acquiring an additional 8,734 shares during the period. Burney Co.’s holdings in The Goldman Sachs Group were worth $13,989,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Acropolis Investment Management LLC raised its stake in shares of The Goldman Sachs Group by 1.8% during the fourth quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company’s stock worth $554,000 after buying an additional 11 shares during the last quarter. Walkner Condon Financial Advisors LLC grew its holdings in The Goldman Sachs Group by 2.0% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company’s stock worth $505,000 after acquiring an additional 11 shares during the period. Optas LLC grew its holdings in The Goldman Sachs Group by 0.4% during the 4th quarter. Optas LLC now owns 2,553 shares of the investment management company’s stock worth $2,244,000 after acquiring an additional 11 shares during the period. Pines Wealth Management LLC raised its position in shares of The Goldman Sachs Group by 0.4% during the 4th quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock valued at $2,255,000 after acquiring an additional 11 shares during the last quarter. Finally, Welch & Forbes LLC grew its stake in shares of The Goldman Sachs Group by 0.8% during the fourth quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock worth $1,257,000 after purchasing an additional 11 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

Shares of GS opened at $1,054.81 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The company’s fifty day simple moving average is $1,005.83 and its 200 day simple moving average is $933.17. The Goldman Sachs Group, Inc. has a 1-year low of $691.30 and a 1-year high of $1,125.00. The company has a market cap of $311.18 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.32 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. During the same quarter last year, the company posted $14.12 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 60.18 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 1st were paid a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.89%.

More The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs strengthened its technology leadership by hiring Google executive Evan Kotsovinos as a partner and head of division engineering, and also bringing in another Google engineer to lead asset & wealth management engineering. These hires suggest continued investment in digital capabilities and operational efficiency. Article Title
• Positive Sentiment: Goldman Sachs’ M&A advisory business in EMEA has gained significant market share as regional dealmaking reaches a 19-year high, pointing to stronger investment banking fees if the deal rebound continues. Article Title
• Positive Sentiment: Market commentary tied to Goldman Sachs has been broadly constructive, including the firm’s positive view on stocks such as Nvidia, South Korea equities, and select undervalued names, reinforcing Goldman’s image as a strong market strategist and analyst franchise. Article Title

Insiders Place Their Bets

In related news, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the transaction, the insider owned 15,657 shares in the company, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the transaction, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. This trade represents a 61.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 33,681 shares of company stock worth $31,737,875. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the topic of a number of recent analyst reports. Rothschild & Co Redburn raised their target price on The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $1,000.00 to $1,195.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Bank of America lowered their target price on shares of The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. Ten research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $974.18.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.