Hourglass Capital LLC trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,736 shares of the investment management company's stock after selling 1,097 shares during the quarter. The Goldman Sachs Group comprises about 2.7% of Hourglass Capital LLC's portfolio, making the stock its 4th biggest position. Hourglass Capital LLC's holdings in The Goldman Sachs Group were worth $8,927,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Apexium Financial LP increased its position in The Goldman Sachs Group by 7.1% in the 4th quarter. Apexium Financial LP now owns 5,672 shares of the investment management company's stock valued at $2,188,000 after buying an additional 378 shares in the last quarter. Empowered Funds LLC increased its position in The Goldman Sachs Group by 62.7% in the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company's stock valued at $2,632,000 after buying an additional 2,428 shares in the last quarter. Duality Advisers LP bought a new stake in The Goldman Sachs Group in the 1st quarter valued at about $1,388,000. BI Asset Management Fondsmaeglerselskab A S increased its position in The Goldman Sachs Group by 34.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company's stock valued at $3,448,000 after buying an additional 2,103 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC bought a new stake in The Goldman Sachs Group in the 4th quarter valued at about $5,416,000. 71.21% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now owns 12,095 shares of the company's stock, valued at approximately $6,119,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now owns 12,095 shares of the company's stock, valued at approximately $6,119,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,013,500 shares of company stock valued at $32,181,365. Company insiders own 0.54% of the company's stock.
Wall Street Analyst Weigh In
GS has been the subject of a number of research analyst reports. BMO Capital Markets boosted their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a "market perform" rating in a research report on Wednesday, July 17th. Royal Bank of Canada reissued a "sector perform" rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Oppenheimer boosted their price objective on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an "outperform" rating in a report on Tuesday, July 16th. Citigroup boosted their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a "neutral" rating in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $461.00 to $464.00 and gave the stock an "overweight" rating in a report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $495.94.
Get Our Latest Report on GS
The Goldman Sachs Group Stock Performance
Shares of GS stock traded down $8.24 on Friday, hitting $479.64. 1,994,856 shares of the stock were exchanged, compared to its average volume of 2,266,371. The firm has a market capitalization of $154.67 billion, a PE ratio of 18.73, a P/E/G ratio of 0.79 and a beta of 1.36. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $517.26. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The firm's 50 day moving average is $488.78 and its two-hundred day moving average is $447.10.
The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.52 by $0.10. The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 35.07 earnings per share for the current fiscal year.
The Goldman Sachs Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, August 30th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $2.75. The Goldman Sachs Group's dividend payout ratio is 46.86%.
The Goldman Sachs Group Company Profile
(
Free Report)
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.
Recommended Stories
Before you consider The Goldman Sachs Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Goldman Sachs Group wasn't on the list.
While The Goldman Sachs Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
