U S Global Investors Inc. Sells 300 Shares of The Goldman Sachs Group, Inc. $GS

U S Global Investors Inc. cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 10.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,525 shares of the investment management company’s stock after selling 300 shares during the period. U S Global Investors Inc.’s holdings in The Goldman Sachs Group were worth $1,787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $25,000. Dogwood Wealth Management LLC lifted its holdings in shares of The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 23 shares in the last quarter. Finally, Ridgewood Investments LLC lifted its holdings in shares of The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 17 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

GS opened at $765.14 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The firm has a market capitalization of $231.62 billion, a PE ratio of 16.86, a PEG ratio of 1.47 and a beta of 1.42. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The business’s 50-day simple moving average is $760.79 and its 200 day simple moving average is $662.32.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the company posted $8.62 earnings per share. The Goldman Sachs Group’s revenue 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 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $4.00 dividend. 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 yield of 2.1%. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is currently 35.26%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GS. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Royal Bank Of Canada boosted their price target on 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. Finally, Citigroup boosted their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a report on Monday, July 21st. 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $727.31.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John F.W. Rogers sold 6,008 shares of the company’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 sale, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

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.