Geneos Wealth Management Inc. Has $5.23 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Geneos Wealth Management Inc. reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 14.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,581 shares of the investment management company’s stock after selling 1,680 shares during the quarter. Geneos Wealth Management Inc.’s holdings in The Goldman Sachs Group were worth $5,234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of The Goldman Sachs Group by 63,864.7% during the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock worth $2,172,423,000 after buying an additional 3,970,467 shares during the last quarter. Northern Trust Corp lifted its position in shares of The Goldman Sachs Group by 1.2% during the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company’s stock worth $1,820,677,000 after buying an additional 40,125 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of The Goldman Sachs Group by 6.1% during 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 worth $1,138,527,000 after buying an additional 120,272 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of The Goldman Sachs Group by 15.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,963,836 shares of the investment management company’s stock worth $1,124,532,000 after buying an additional 256,204 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on GS shares. Hsbc Global Res downgraded The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Citigroup upped their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Finally, Zacks Research upgraded The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $660.00.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $769.95 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $233.08 billion, a PE ratio of 16.97, a P/E/G ratio of 1.60 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $774.47. The stock has a 50-day moving average price of $726.53 and a two-hundred day moving average price of $629.25.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.62 earnings per share. Analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $4.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The Goldman Sachs Group’s payout ratio is currently 35.26%.

Insider Buying and Selling

In other news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares of the company’s stock, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,323 shares of company stock worth $28,111,828. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Company Profile

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.