Malaga Cove Capital LLC Has $1.83 Million Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Malaga Cove Capital LLC trimmed its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 14.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,354 shares of the investment management company’s stock after selling 576 shares during the quarter. Malaga Cove Capital LLC’s holdings in The Goldman Sachs Group were worth $1,832,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GS. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Godsey & Gibb Inc. increased its position in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Transce3nd LLC acquired a new position in The Goldman Sachs Group during the 4th quarter worth approximately $31,000. Mascagni Wealth Management Inc. acquired a new position in The Goldman Sachs Group during the 4th quarter worth approximately $31,000. Finally, Lowe Wealth Advisors LLC increased its position in The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock worth $35,000 after purchasing an additional 49 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GS. Wells Fargo & Company upped their price target on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. HSBC restated a “reduce” rating and issued a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the company an “outperform” rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $660.00.

Insider Buying and Selling

In related news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares of the company’s stock, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock valued at $14,423,221 over the last ninety days. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Trading Down 2.0%

NYSE:GS opened at $709.40 on Friday. The firm’s fifty day moving average is $669.82 and its 200-day moving average is $610.85. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12. The Goldman Sachs Group, Inc. has a 52 week low of $437.37 and a 52 week high of $737.88. The firm has a market cap of $217.67 billion, a P/E ratio of 15.63, a P/E/G ratio of 1.54 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The Goldman Sachs Group’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $8.62 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group’s payout ratio is currently 26.44%.

The Goldman Sachs Group Company 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.