Journey Advisory Group LLC Reduces Stock Holdings in The Goldman Sachs Group, Inc. $GS

Journey Advisory Group LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,341 shares of the investment management company’s stock after selling 205 shares during the period. Journey Advisory Group LLC’s holdings in The Goldman Sachs Group were worth $3,780,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Drive Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 4.8% during the second quarter. Drive Wealth Management LLC now owns 941 shares of the investment management company’s stock worth $666,000 after acquiring an additional 43 shares in the last quarter. Schnieders Capital Management LLC lifted its position in shares of The Goldman Sachs Group by 9.3% during the second quarter. Schnieders Capital Management LLC now owns 821 shares of the investment management company’s stock worth $581,000 after acquiring an additional 70 shares in the last quarter. WBH Advisory Inc. lifted its position in shares of The Goldman Sachs Group by 104.2% during the second quarter. WBH Advisory Inc. now owns 980 shares of the investment management company’s stock worth $694,000 after acquiring an additional 500 shares in the last quarter. Stephens Inc. AR lifted its position in shares of The Goldman Sachs Group by 3.9% during the second quarter. Stephens Inc. AR now owns 62,536 shares of the investment management company’s stock worth $44,260,000 after acquiring an additional 2,367 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 45.5% during the second quarter. Calamos Wealth Management LLC now owns 7,758 shares of the investment management company’s stock worth $5,491,000 after acquiring an additional 2,427 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Transactions at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,244 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly 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. Insiders sold 38,323 shares of company stock worth $28,111,828 in the last three months. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Daiwa Capital Markets increased their target price on The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. JMP Securities reiterated a “market perform” rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Morgan Stanley lowered their price objective on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Royal Bank Of Canada reiterated a “neutral” rating and issued a $843.00 price objective on shares of The Goldman Sachs Group in a research report on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $771.00.

The Goldman Sachs Group Stock Down 1.0%

GS opened at $750.71 on Monday. The stock has a market cap of $227.25 billion, a PE ratio of 15.25, a P/E/G ratio of 1.39 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The business’s fifty day simple moving average is $765.25 and its 200 day simple moving average is $671.52.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The business had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.40 earnings per share. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

About The Goldman Sachs Group

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.