RNC Capital Management LLC Sells 77 Shares of The Goldman Sachs Group, Inc. $GS

RNC Capital Management LLC lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,859 shares of the investment management company’s stock after selling 77 shares during the quarter. RNC Capital Management LLC’s holdings in The Goldman Sachs Group were worth $1,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised 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 acquiring an additional 29,053,586 shares in the last quarter. Northern Trust Corp increased its position in The Goldman Sachs Group by 1.2% in the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company’s stock valued at $1,820,677,000 after buying an additional 40,125 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in The Goldman Sachs Group by 6.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company’s stock valued at $1,138,527,000 after buying an additional 120,272 shares in the last quarter. Amundi increased its position in The Goldman Sachs Group by 13.6% in the 1st quarter. Amundi now owns 1,891,260 shares of the investment management company’s stock valued at $967,193,000 after buying an additional 225,993 shares in the last quarter. Finally, Nuveen LLC bought a new stake in The Goldman Sachs Group in the 1st quarter valued at about $897,185,000. Institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays boosted their target price on The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada reaffirmed a “neutral” rating and issued a $843.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, October 14th. Daiwa Capital Markets boosted their price objective on The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 8th. Finally, Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Three analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $779.50.

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 sale, the chief financial officer owned 18,594 shares of the company’s stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 directly owned 106,268 shares in the company, valued at $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,707 shares of company stock worth $19,094,804 in the last three months. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $744.18 on Thursday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The stock’s 50 day moving average price is $766.42 and its 200-day moving average price is $674.65. The company has a market capitalization of $225.28 billion, a PE ratio of 15.12, a PEG 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 (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The business had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter in the prior year, the business earned $8.40 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued 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 yield of 2.2%. The Goldman Sachs Group’s payout ratio is presently 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.