Cidel Asset Management Inc. Grows Position in The Goldman Sachs Group, Inc. $GS

Cidel Asset Management Inc. raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,171 shares of the investment management company’s stock after purchasing an additional 21 shares during the quarter. Cidel Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $1,537,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GS. Brighton Jones LLC grew its holdings in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after buying an additional 508 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after buying an additional 58 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of The Goldman Sachs Group by 17.1% during the first quarter. GAMMA Investing LLC now owns 7,279 shares of the investment management company’s stock worth $3,977,000 after buying an additional 1,062 shares in the last quarter. Johnson Investment Counsel Inc. grew its holdings in shares of The Goldman Sachs Group by 7.4% during the first quarter. Johnson Investment Counsel Inc. now owns 4,125 shares of the investment management company’s stock worth $2,254,000 after buying an additional 284 shares in the last quarter. Finally, Advisor Resource Council purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth $290,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of a number of research reports. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Morgan Stanley lowered their price target on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Barclays boosted their price target on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Finally, Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Four analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $770.73.

Insider Activity at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 106,268 shares in the company, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction that occurred 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 trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock worth $28,111,828 over the last quarter. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $750.71 on Friday. The company’s 50 day simple moving average is $765.25 and its 200-day simple moving average is $670.40. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The company has a market capitalization of $227.25 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter last year, the firm earned $8.40 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be issued a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.50%.

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.