Benin Management CORP Buys 306 Shares of The Goldman Sachs Group, Inc. $GS

Benin Management CORP lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 75.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 714 shares of the investment management company’s stock after purchasing an additional 306 shares during the quarter. Benin Management CORP’s holdings in The Goldman Sachs Group were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GS. Kingstone Capital Partners Texas LLC boosted its position in shares of The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after purchasing an additional 29,053,586 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $1,766,238,000. Nuveen LLC purchased a new position in The Goldman Sachs Group in the 1st quarter worth approximately $897,185,000. Ninety One UK Ltd purchased a new position in The Goldman Sachs Group in the 2nd quarter worth approximately $408,780,000. Finally, Cohen Investment Advisors LLC raised its holdings in The Goldman Sachs Group by 5,559.2% in the 1st quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company’s stock worth $256,876,000 after acquiring an additional 461,911 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada reiterated a “neutral” rating and set a $843.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, October 14th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Barclays upped their target price on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Citigroup increased their price objective on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Finally, HSBC increased their price objective on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Three analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $779.50.

Insider Buying and Selling

In other news, COO John E. Waldron sold 9,244 shares of the firm’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 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 legal filing with the SEC, which can be accessed through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,707 shares of company stock worth $19,094,804. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $759.22 on Wednesday. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25. The firm has a market capitalization of $229.83 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.41 and a beta of 1.42. The company’s 50-day moving average is $766.45 and its 200 day moving average is $674.16.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company had revenue of $11.33 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period in the prior year, the company posted $8.40 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

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

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.