Morton Community Bank Buys Shares of 6,425 The Goldman Sachs Group, Inc. (NYSE:GS)

Morton Community Bank purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,425 shares of the investment management company’s stock, valued at approximately $2,906,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. First Personal Financial Services purchased a new stake in shares of The Goldman Sachs Group during the first quarter valued at $25,000. First United Bank & Trust bought a new position in The Goldman Sachs Group in the 4th quarter worth about $26,000. POM Investment Strategies LLC purchased a new position in shares of The Goldman Sachs Group during the second quarter worth approximately $26,000. Versant Capital Management Inc raised its stake in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 34 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of 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 period. 71.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on The Goldman Sachs Group from $461.00 to $464.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods increased their target price on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. BMO Capital Markets raised their target price on shares of 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. Finally, Citigroup upped their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $495.94.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 3,500 shares of the company’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 sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on 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 sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at $6,287,748. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,013,500 shares of company stock valued at $32,181,365. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Down 1.7 %

Shares of GS traded down $8.27 during mid-day trading on Friday, hitting $479.61. 1,995,561 shares of the company traded hands, compared to its average volume of 2,266,371. The company has a market capitalization of $154.66 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 0.79 and a beta of 1.36. 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 business has a 50 day moving average of $489.33 and a 200 day moving average of $448.20. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26.

The Goldman Sachs Group (NYSE:GS) last issued 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 business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 35.07 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $3.00 dividend. 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. This represents a $12.00 dividend on an annualized basis and a yield of 2.50%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.86%.

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.