Mcrae Capital Management Inc. Boosts Stake in The Goldman Sachs Group, Inc. $GS

Mcrae Capital Management Inc. increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 53.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 7,553 shares of the investment management company’s stock after buying an additional 2,615 shares during the quarter. The Goldman Sachs Group accounts for about 1.1% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Mcrae Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $5,346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GS. Winthrop Advisory Group LLC raised its position in The Goldman Sachs Group by 3.4% during the 2nd quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock worth $303,000 after buying an additional 14 shares during the last quarter. Avion Wealth increased its stake in shares of The Goldman Sachs Group by 31.1% in the second quarter. Avion Wealth now owns 59 shares of the investment management company’s stock worth $41,000 after acquiring an additional 14 shares during the period. KPP Advisory Services LLC increased its stake in shares of The Goldman Sachs Group by 2.1% in the second quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock worth $473,000 after acquiring an additional 14 shares during the period. Dumont & Blake Investment Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 0.7% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 2,241 shares of the investment management company’s stock worth $1,586,000 after purchasing an additional 15 shares during the last quarter. Finally, Mechanics Financial Corp lifted its position in The Goldman Sachs Group by 5.8% during the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock valued at $208,000 after purchasing an additional 16 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity

In related news, COO John E. Waldron sold 9,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

GS opened at $787.24 on Friday. 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 capitalization of $236.12 billion, a PE ratio of 15.99, a PEG ratio of 1.43 and a beta of 1.41. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23. The firm’s 50-day moving average price is $777.23 and its 200 day moving average price is $698.07.

The Goldman Sachs Group (NYSE:GS) last released 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 company had revenue of $15.18 billion for the quarter, compared to analyst estimates 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 for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.40 earnings per share. As a group, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be given 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 dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 32.50%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GS shares. Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. HSBC boosted their price target on The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. BMO Capital Markets initiated coverage on shares of The Goldman Sachs Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $785.00 price objective on the stock. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Wells Fargo & Company raised their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.