Stablepoint Partners LLC Cuts Position in The Goldman Sachs Group, Inc. $GS

Stablepoint Partners LLC cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 17.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 679 shares of the investment management company’s stock after selling 146 shares during the period. Stablepoint Partners LLC’s holdings in The Goldman Sachs Group were worth $481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meridian Wealth Partners LLC acquired a new stake in The Goldman Sachs Group in the second quarter valued at approximately $221,000. West Family Investments Inc. increased its position in shares of The Goldman Sachs Group by 117.0% during the second quarter. West Family Investments Inc. now owns 1,261 shares of the investment management company’s stock worth $892,000 after purchasing an additional 680 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of The Goldman Sachs Group by 1.4% in the second quarter. Schroder Investment Management Group now owns 190,896 shares of the investment management company’s stock valued at $135,107,000 after acquiring an additional 2,661 shares during the period. Colonial Trust Advisors increased its stake in The Goldman Sachs Group by 0.6% in the second quarter. Colonial Trust Advisors now owns 27,232 shares of the investment management company’s stock valued at $19,274,000 after purchasing an additional 174 shares during the period. Finally, Norges Bank purchased a new stake in The Goldman Sachs Group during the 2nd quarter valued at approximately $2,138,031,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Trading Up 1.3%

Shares of GS opened at $826.51 on Friday. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $841.28. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The company has a market capitalization of $247.89 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.43 and a beta of 1.41. The stock has a 50-day moving average price of $787.51 and a 200 day moving average price of $726.53.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.27 by $1.98. The firm had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted $8.40 earnings per share. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is 32.50%.

Analysts Set New Price Targets

GS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $750.00 price objective (up previously from $625.00) on shares of The Goldman Sachs Group in a research report on Tuesday, October 21st. UBS Group upped their price objective on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Wells Fargo & Company lifted their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Citigroup raised their target price on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Four equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $786.00.

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.