Sunbeam Capital Management LLC Makes New Investment in The Goldman Sachs Group, Inc. $GS

Sunbeam Capital Management LLC bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 285 shares of the investment management company’s stock, valued at approximately $202,000.

Several other large investors have also bought and sold shares of GS. Brighton Jones LLC raised its holdings in The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after buying an additional 508 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after buying an additional 58 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in The Goldman Sachs Group by 6.8% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,425 shares of the investment management company’s stock worth $779,000 after buying an additional 91 shares during the last quarter. OLD National Bancorp IN raised its holdings in The Goldman Sachs Group by 2.7% in the first quarter. OLD National Bancorp IN now owns 3,165 shares of the investment management company’s stock worth $1,729,000 after buying an additional 82 shares during the last quarter. Finally, Courier Capital LLC raised its holdings in shares of The Goldman Sachs Group by 0.6% during the first quarter. Courier Capital LLC now owns 4,046 shares of the investment management company’s stock valued at $2,210,000 after purchasing an additional 24 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GS has been the subject of several research reports. Royal Bank Of Canada boosted their price objective on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Morgan Stanley boosted their price objective on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. BMO Capital Markets initiated coverage on shares of The Goldman Sachs Group in a report on Friday. They set a “market perform” rating and a $785.00 price objective for the company. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a report on Thursday, July 17th. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $717.00.

Insider Activity

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the company’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 transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. The trade was 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 have sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $796.13 on Tuesday. The firm has a 50 day moving average of $756.50 and a 200 day moving average of $657.99. 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 firm has a market capitalization of $241.00 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25.

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 (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion during 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 14.32%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $8.62 earnings per share. On average, research analysts anticipate 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 was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a dividend of $4.00 per share. 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 was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.26%.

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.