Sterling Investment Management LLC Sells 19 Shares of The Goldman Sachs Group, Inc. $GS

Sterling Investment Management LLC cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,144 shares of the investment management company’s stock after selling 19 shares during the quarter. The Goldman Sachs Group makes up approximately 1.9% of Sterling Investment Management LLC’s holdings, making the stock its 19th largest holding. Sterling Investment Management LLC’s holdings in The Goldman Sachs Group were worth $2,933,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Benin Management CORP grew its stake in shares of The Goldman Sachs Group by 75.0% in the second quarter. Benin Management CORP now owns 714 shares of the investment management company’s stock worth $505,000 after purchasing an additional 306 shares during the last quarter. Brookstone Capital Management grew its stake in shares of The Goldman Sachs Group by 3.2% in the second quarter. Brookstone Capital Management now owns 6,911 shares of the investment management company’s stock worth $4,891,000 after purchasing an additional 212 shares during the last quarter. Jacobsen Capital Management bought a new stake in shares of The Goldman Sachs Group in the second quarter worth about $229,000. Schulhoff & Co. Inc. grew its stake in shares of The Goldman Sachs Group by 17.0% in the second quarter. Schulhoff & Co. Inc. now owns 3,446 shares of the investment management company’s stock worth $2,439,000 after purchasing an additional 501 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in The Goldman Sachs Group by 184.0% in the second quarter. Cullen Frost Bankers Inc. now owns 284 shares of the investment management company’s stock worth $201,000 after buying an additional 184 shares during the period. 71.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John E. Waldron sold 9,000 shares of the business’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,707 shares of company stock valued at $19,094,804. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $759.22 on Wednesday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The firm has a market cap of $229.83 billion, a P/E ratio of 15.42, a PEG ratio of 1.41 and a beta of 1.42. The company has a 50 day moving average of $766.45 and a 200 day moving average of $674.16. 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 (NYSE:GS) last announced 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 during the quarter, compared to analyst estimates of $13.68 billion. During the same period in the previous year, the business earned $8.40 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley lowered their price objective on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a report on Wednesday, October 15th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus target price of $779.50.

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.