Aberdeen Group plc decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 3.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 312,670 shares of the investment management company’s stock after selling 10,328 shares during the period. Aberdeen Group plc owned about 0.10% of The Goldman Sachs Group worth $221,323,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new position in The Goldman Sachs Group in the first quarter worth approximately $25,000. Dogwood Wealth Management LLC raised its stake 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 worth $26,000 after buying an additional 36 shares in the last quarter. American Capital Advisory LLC bought a new position in The Goldman Sachs Group in the first quarter worth approximately $29,000. Cornerstone Planning Group LLC raised its stake in The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock worth $38,000 after buying an additional 23 shares in the last quarter. Finally, Ridgewood Investments LLC raised its stake 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 worth $38,000 after buying an additional 17 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.
Insider Buying and Selling at The Goldman Sachs Group
In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David M. Solomon sold 6,608 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 in the last three months. Company insiders own 0.55% of the company’s stock.
The Goldman Sachs Group Price Performance
The Goldman Sachs Group (NYSE:GS – Get Free Report) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (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 firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the firm earned $8.62 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. As a group, equities 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 was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $4.00 dividend. The ex-dividend date of this dividend was 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 yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is currently 35.26%.
Analysts Set New Price Targets
GS has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Morgan Stanley upped their price target on The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. BMO Capital Markets initiated coverage on The Goldman Sachs Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $785.00 price target on the stock. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Finally, Zacks Research downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $727.31.
Check Out Our Latest Stock Analysis on GS
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.
See Also
- Five stocks we like better than The Goldman Sachs Group
- About the Markup Calculator
- 3 Heavily Shorted Stocks That Could Pop on Rate Cuts
- Buy P&G Now, Before It Sets A New All-Time High
- Broadcom Gets Second $420 Target as CPO Win Boosts Outlook
- Airline Stocks – Top Airline Stocks to Buy Now
- PepsiCo’s Deep Discount Will Soon Evaporate: Buy It While You Can
Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS – Free Report).
Receive News & Ratings for The Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.