The Goldman Sachs Group, Inc. $GS Shares Sold by ABLE Financial Group LLC

ABLE Financial Group LLC reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 21.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 556 shares of the investment management company’s stock after selling 149 shares during the period. ABLE Financial Group LLC’s holdings in The Goldman Sachs Group were worth $394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GS. Clal Insurance Enterprises Holdings Ltd purchased a new stake in The Goldman Sachs Group during the 1st quarter worth $25,000. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group during the first quarter valued at about $29,000. Godsey & Gibb Inc. increased its position in shares of The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 326.7% in the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock worth $35,000 after acquiring an additional 49 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction 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. This represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GS shares. JMP Securities restated a “market perform” rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Citigroup raised their price target on shares of 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. HSBC restated a “reduce” rating and issued a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective 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. Finally, Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $665.00.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $804.45 on Monday. The firm’s 50 day moving average is $738.03 and its two-hundred day moving average is $638.81. The firm has a market capitalization of $243.52 billion, a P/E ratio of 17.73, a PEG ratio of 1.68 and a beta of 1.41. 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 Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $809.66.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the firm posted $8.62 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. Analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.26%.

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.