Checchi Capital Advisers LLC Lowers Stock Position in The Goldman Sachs Group, Inc. $GS

Checchi Capital Advisers LLC cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 5.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,374 shares of the investment management company’s stock after selling 591 shares during the quarter. Checchi Capital Advisers LLC’s holdings in The Goldman Sachs Group were worth $7,342,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $25,000. Dogwood Wealth Management LLC grew its holdings in shares of The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after purchasing an additional 36 shares during the period. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group during the first quarter worth approximately $29,000. Godsey & Gibb Inc. grew its stake in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after buying an additional 34 shares during the period. Finally, Cornerstone Planning Group LLC grew its stake in The Goldman Sachs Group by 46.9% during the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock worth $38,000 after buying an additional 23 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $790.32 on Friday. The stock has a market cap of $239.25 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The stock has a 50 day moving average of $755.05 and a 200-day moving average of $655.73. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating 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 firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the firm posted $8.62 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, analysts expect 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 declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $4.00 per share. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is 35.26%.

Insider Transactions at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup upped their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Royal Bank Of Canada upped their target price on The Goldman Sachs Group from $750.00 to $843.00 and gave the stock a “sector perform” rating in a research report on Wednesday. HSBC increased their target price on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Saturday, September 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $717.00.

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.