SteelPeak Wealth LLC Sells 131 Shares of The Goldman Sachs Group, Inc. $GS

SteelPeak Wealth LLC lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,642 shares of the investment management company’s stock after selling 131 shares during the period. SteelPeak Wealth LLC’s holdings in The Goldman Sachs Group were worth $10,363,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GS. Mechanics Financial Corp grew its stake in shares of The Goldman Sachs Group by 5.8% in the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock worth $208,000 after purchasing an additional 16 shares during the last quarter. Ridgewood Investments LLC lifted its holdings in The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after buying an additional 17 shares during the period. Bank of Stockton grew its position in shares of The Goldman Sachs Group by 0.7% in the 2nd quarter. Bank of Stockton now owns 2,485 shares of the investment management company’s stock worth $1,759,000 after buying an additional 17 shares during the last quarter. Western Financial Corp CA grew its position in shares of The Goldman Sachs Group by 0.5% in the 2nd quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company’s stock worth $2,546,000 after buying an additional 17 shares during the last quarter. Finally, Ameriflex Group Inc. increased its stake in shares of The Goldman Sachs Group by 21.4% during the second quarter. Ameriflex Group Inc. now owns 102 shares of the investment management company’s stock valued at $70,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

GS has been the topic of several recent analyst reports. Hsbc Global Res cut shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus price target of $717.00.

The Goldman Sachs Group Trading Up 0.8%

Shares of NYSE GS opened at $796.13 on Tuesday. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a 50-day moving average of $756.50 and a 200 day moving average of $657.99. The stock has a market cap of $241.00 billion, a P/E ratio of 17.54, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share 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 business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm earned $8.62 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side 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 announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.0%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

Insider Buying and Selling

In related news, COO John E. Waldron sold 9,000 shares of the stock in a transaction dated Thursday, August 28th. The shares were 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 of the company’s stock, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,323 shares of company stock valued at $28,111,828. Insiders own 0.55% of the company’s stock.

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.