Commonwealth Financial Services LLC Sells 23 Shares of The Goldman Sachs Group, Inc. $GS

Commonwealth Financial Services LLC cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 413 shares of the investment management company’s stock after selling 23 shares during the quarter. Commonwealth Financial Services LLC’s holdings in The Goldman Sachs Group were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GS. Kingstone Capital Partners Texas LLC grew its stake in shares of The Goldman Sachs Group by 617,504.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock valued at $20,566,005,000 after acquiring an additional 29,053,586 shares during the period. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $1,766,238,000. Nuveen LLC bought a new position in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $897,185,000. Assenagon Asset Management S.A. grew its stake in shares of The Goldman Sachs Group by 102.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company’s stock valued at $8,065,000 after acquiring an additional 585,084 shares during the period. Finally, Ninety One UK Ltd bought a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $408,780,000. 71.21% of the stock is currently owned by institutional investors.

Insider Transactions at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on Friday, July 25th. The shares were 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. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 over the last quarter. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. HSBC upped their price target on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday. Finally, BMO Capital Markets assumed coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price target for the company. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $727.31.

The Goldman Sachs Group Stock Down 1.9%

NYSE GS opened at $765.14 on Friday. 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 company has a market capitalization of $231.62 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.44 and a beta of 1.42. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The stock has a 50 day moving average price of $760.79 and a 200-day moving average price of $662.94.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results 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 firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $8.62 EPS. As a group, equities 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 company also recently announced 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 was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio is currently 35.26%.

The Goldman Sachs Group 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.