City Holding Co. Has $435,000 Holdings in The Goldman Sachs Group, Inc. $GS

City Holding Co. boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 40.7% in the second quarter, Holdings Channel reports. The firm owned 615 shares of the investment management company’s stock after purchasing an additional 178 shares during the quarter. City Holding Co.’s holdings in The Goldman Sachs Group were worth $435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tritonpoint Wealth LLC raised its stake in The Goldman Sachs Group by 6.5% in the second quarter. Tritonpoint Wealth LLC now owns 2,533 shares of the investment management company’s stock valued at $1,793,000 after purchasing an additional 154 shares in the last quarter. Coastline Trust Co raised its stake in The Goldman Sachs Group by 5.3% in the second quarter. Coastline Trust Co now owns 1,899 shares of the investment management company’s stock valued at $1,344,000 after purchasing an additional 96 shares in the last quarter. WD Rutherford LLC raised its stake in The Goldman Sachs Group by 156.8% in the second quarter. WD Rutherford LLC now owns 4,011 shares of the investment management company’s stock valued at $2,839,000 after purchasing an additional 2,449 shares in the last quarter. Stockman Wealth Management Inc. acquired a new position in The Goldman Sachs Group during the second quarter worth about $226,000. Finally, Uncommon Cents Investing LLC raised its stake in The Goldman Sachs Group by 31.0% during the second quarter. Uncommon Cents Investing LLC now owns 2,410 shares of the investment management company’s stock worth $1,706,000 after acquiring an additional 570 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on GS shares. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the stock an “outperform” rating in a research note on Thursday, July 10th. Wall Street Zen raised The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. Hsbc Global Res downgraded The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Finally, Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $665.00.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $802.91 on Monday. The business’s 50 day simple moving average is $747.32 and its 200 day simple moving average is $648.04. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The stock has a market capitalization of $243.06 billion, a PE ratio of 17.69, a PEG ratio of 1.67 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the business posted $8.62 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. 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. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 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.