Spinnaker Trust Boosts Stake in The Goldman Sachs Group, Inc. $GS

Spinnaker Trust lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,191 shares of the investment management company’s stock after purchasing an additional 40 shares during the period. Spinnaker Trust’s holdings in The Goldman Sachs Group were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Savvy Advisors Inc. boosted its position in The Goldman Sachs Group by 11.1% during the second quarter. Savvy Advisors Inc. now owns 3,309 shares of the investment management company’s stock worth $2,342,000 after purchasing an additional 330 shares in the last quarter. Fortune 45 LLC raised its stake in shares of The Goldman Sachs Group by 7.0% during the 2nd quarter. Fortune 45 LLC now owns 1,077 shares of the investment management company’s stock worth $762,000 after buying an additional 70 shares during the period. MeadowBrook Investment Advisors LLC purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $39,000. Assetmark Inc. lifted its position in shares of The Goldman Sachs Group by 10.7% during the 2nd quarter. Assetmark Inc. now owns 17,572 shares of the investment management company’s stock valued at $12,437,000 after buying an additional 1,701 shares in the last quarter. Finally, Keybank National Association OH grew its stake in The Goldman Sachs Group by 6.6% in the 2nd quarter. Keybank National Association OH now owns 10,891 shares of the investment management company’s stock valued at $7,708,000 after acquiring an additional 676 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the business’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at $86,463,679.48. The trade was a 7.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $788.83 on Friday. The business’s 50 day moving average price is $772.90 and its 200 day moving average price is $688.24. The company has a market cap of $238.79 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.43 and a beta of 1.42. 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 one year low of $439.38 and a one year high of $825.25.

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

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 32.50%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GS. UBS Group upped their price objective on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. JMP Securities reiterated a “market perform” rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Daiwa Capital Markets increased their target price on The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed a “neutral” rating and issued a $843.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, October 14th. Finally, Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Three analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $779.50.

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.