Wescott Financial Advisory Group LLC Invests $2.14 Million in The Goldman Sachs Group, Inc. (NYSE:GS)

Wescott Financial Advisory Group LLC bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, HoldingsChannel reports. The firm bought 5,715 shares of the investment management company’s stock, valued at approximately $2,139,000. The Goldman Sachs Group makes up approximately 1.3% of Wescott Financial Advisory Group LLC’s investment portfolio, making the stock its 11th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC increased its stake in The Goldman Sachs Group by 100.0% in the 1st quarter. Tortoise Investment Management LLC now owns 100 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. Larson Financial Group LLC grew its holdings in The Goldman Sachs Group by 66.7% during the 2nd quarter. Larson Financial Group LLC now owns 100 shares of the investment management company’s stock valued at $38,000 after buying an additional 40 shares during the last quarter. tru Independence LLC acquired a new stake in The Goldman Sachs Group during the 2nd quarter valued at $39,000. Emerald Advisers LLC acquired a new stake in The Goldman Sachs Group during the 2nd quarter valued at $42,000. Finally, Paragon Wealth Strategies LLC acquired a new stake in The Goldman Sachs Group during the 2nd quarter valued at $43,000. 70.82% of the stock is owned by hedge funds and other institutional investors.

NYSE:GS traded down $2.17 during mid-day trading on Wednesday, reaching $401.52. The stock had a trading volume of 157,488 shares, compared to its average volume of 2,833,352. The company has a market capitalization of $135.35 billion, a price-to-earnings ratio of 7.24 and a beta of 1.50. The Goldman Sachs Group, Inc. has a 1-year low of $185.52 and a 1-year high of $420.76. The stock’s 50 day simple moving average is $392.43 and its two-hundred day simple moving average is $366.72. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.84 and a quick ratio of 0.84.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, July 12th. The investment management company reported $15.02 EPS for the quarter, topping the Zacks’ consensus estimate of $10.24 by $4.78. The Goldman Sachs Group had a return on equity of 23.55% and a net margin of 33.03%. The business had revenue of $15.39 billion during the quarter, compared to the consensus estimate of $12.17 billion. During the same period last year, the firm earned $6.26 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 52.72 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday, September 1st will be paid a $2.00 dividend. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $1.25. This represents a $8.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, August 31st. The Goldman Sachs Group’s payout ratio is presently 23.36%.

GS has been the topic of a number of analyst reports. Credit Suisse Group increased their target price on The Goldman Sachs Group from $420.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, July 14th. Piper Sandler raised their price objective on The Goldman Sachs Group from $420.00 to $435.00 and gave the stock an “overweight” rating in a report on Wednesday, July 14th. Evercore ISI restated a “buy” rating and set a $410.00 price objective on shares of The Goldman Sachs Group in a report on Friday, July 2nd. Barclays set a $437.00 price objective on The Goldman Sachs Group in a report on Wednesday, July 14th. Finally, JMP Securities raised their price objective on The Goldman Sachs Group from $400.00 to $425.00 and gave the stock a “market outperform” rating in a report on Thursday, June 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $394.82.

About The Goldman Sachs Group

Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, help companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.

See Also: What is basic economics?

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS).

Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

Receive News & Ratings for The Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.