G&S Capital LLC Lowers Stock Position in The Goldman Sachs Group, Inc. $GS

G&S Capital LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 971 shares of the investment management company’s stock after selling 18 shares during the period. G&S Capital LLC’s holdings in The Goldman Sachs Group were worth $687,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in The Goldman Sachs Group by 28.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock worth $286,418,000 after purchasing an additional 116,535 shares in the last quarter. Clear Creek Financial Management LLC purchased a new position in The Goldman Sachs Group during the 1st quarter worth approximately $321,000. Blueshift Asset Management LLC boosted its position in The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock worth $576,000 after purchasing an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. boosted its position in The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock worth $27,205,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Terra Nova Asset Management LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $1,643,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Citigroup lifted their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Hsbc Global Res cut shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Finally, HSBC restated a “reduce” rating and issued a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $674.93.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 in the last ninety days. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $804.07 on Tuesday. The company has a market capitalization of $243.41 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. 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 stock has a 50 day moving average price of $749.28 and a 200 day moving average price of $649.87.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the company earned $8.62 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a dividend of $4.00 per share. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is 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.