The Goldman Sachs Group, Inc. $GS Shares Sold by Cairn Investment Group Inc.

Cairn Investment Group Inc. trimmed its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,147 shares of the investment management company’s stock after selling 148 shares during the quarter. The Goldman Sachs Group accounts for 3.8% of Cairn Investment Group Inc.’s holdings, making the stock its 6th largest holding. Cairn Investment Group Inc.’s holdings in The Goldman Sachs Group were worth $7,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC boosted its position in shares of The Goldman Sachs Group by 617,504.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after acquiring an additional 29,053,586 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at about $1,766,238,000. Nuveen LLC acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at about $897,185,000. Assenagon Asset Management S.A. boosted its position in shares of The Goldman Sachs Group by 102.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company’s stock valued at $8,065,000 after purchasing an additional 585,084 shares during the period. Finally, Cohen Investment Advisors LLC boosted its position in shares of The Goldman Sachs Group by 5,559.2% in the 1st quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company’s stock valued at $256,876,000 after purchasing an additional 461,911 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at $89,876,426.56. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the transaction, the executive vice president directly owned 65,761 shares of the company’s stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,323 shares of company stock valued at $28,111,828. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GS shares. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. Hsbc Global Res cut The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. JMP Securities reissued a “market perform” rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Morgan Stanley upped their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and an average price target of $665.00.

The Goldman Sachs Group Stock Up 1.0%

Shares of NYSE:GS opened at $802.91 on Monday. The company has a market cap of $243.06 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.67 and a beta of 1.41. The firm’s 50-day simple moving average is $747.32 and its 200-day simple moving average is $648.04. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25.

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 analysts’ consensus estimates of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $8.62 EPS. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.26%.

About The Goldman Sachs Group

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.