RB Capital Management LLC Grows Stock Holdings in The Goldman Sachs Group, Inc. $GS

RB Capital Management LLC raised its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,278 shares of the investment management company’s stock after acquiring an additional 100 shares during the quarter. RB Capital Management LLC’s holdings in The Goldman Sachs Group were worth $3,028,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. McLean Asset Management Corp increased its position in shares of The Goldman Sachs Group by 3.2% in the second quarter. McLean Asset Management Corp now owns 813 shares of the investment management company’s stock valued at $582,000 after acquiring an additional 25 shares during the period. Fiduciary Financial Group LLC boosted its stake in shares of The Goldman Sachs Group by 56.4% during the 2nd quarter. Fiduciary Financial Group LLC now owns 1,720 shares of the investment management company’s stock valued at $1,215,000 after purchasing an additional 620 shares in the last quarter. Michael S. Ryan Inc. boosted its stake in shares of The Goldman Sachs Group by 4.6% during the 2nd quarter. Michael S. Ryan Inc. now owns 689 shares of the investment management company’s stock valued at $488,000 after purchasing an additional 30 shares in the last quarter. Norway Savings Bank boosted its stake in shares of The Goldman Sachs Group by 5.7% during the 2nd quarter. Norway Savings Bank now owns 3,048 shares of the investment management company’s stock valued at $2,157,000 after purchasing an additional 164 shares in the last quarter. Finally, Neville Rodie & Shaw Inc. boosted its stake in shares of The Goldman Sachs Group by 11.6% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 7,813 shares of the investment management company’s stock valued at $5,530,000 after purchasing an additional 815 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GS shares. Keefe, Bruyette & Woods lifted their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a research note on Thursday, July 17th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. JMP Securities reaffirmed a “market perform” rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Zacks Research raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 15th. Finally, Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $660.00.

Insider Activity

In related news, COO John E. Waldron sold 9,244 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have 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 Trading Down 0.5%

Shares of NYSE GS opened at $780.87 on Friday. The firm’s 50 day moving average price is $728.85 and its 200-day moving average price is $631.58. The company has a market cap of $236.39 billion, a PE ratio of 17.21, a P/E/G ratio of 1.65 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $793.17. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business’s 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. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced 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. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group’s payout ratio is currently 35.26%.

The Goldman Sachs Group 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.