Segment Wealth Management LLC Has $14.16 Million Stake in The Goldman Sachs Group, Inc. $GS

Segment Wealth Management LLC trimmed its stake in shares of 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 institutional investor owned 20,003 shares of the investment management company’s stock after selling 486 shares during the period. Segment Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $14,157,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Dogwood Wealth Management LLC lifted its holdings in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after buying an additional 36 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group in the first quarter valued at approximately $25,000. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group in the first quarter valued at approximately $29,000. Godsey & Gibb Inc. lifted its holdings in The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after buying an additional 34 shares during the period. Finally, Ridgewood Investments LLC lifted its holdings in The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after buying an additional 17 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on GS. HSBC restated a “reduce” rating and issued a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a report on Monday. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Saturday, September 27th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $713.88.

Insider Activity at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the sale, the chief financial officer owned 18,594 shares of the company’s stock, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction 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 sale, the executive vice president directly owned 65,761 shares of the company’s stock, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Trading Up 1.4%

GS opened at $790.32 on Friday. The firm’s fifty day moving average is $755.05 and its two-hundred day moving average is $655.05. 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, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The firm has a market cap of $239.25 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.62 and a beta of 1.42.

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 net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm earned $8.62 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $4.00 per share. 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 2.0%. The ex-dividend date of this dividend was 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.