Hodges Capital Management Inc. Sells 397 Shares of The Goldman Sachs Group, Inc. $GS

Hodges Capital Management Inc. reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,280 shares of the investment management company’s stock after selling 397 shares during the period. Hodges Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $5,861,000 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 GS. Ibex Wealth Advisors bought a new stake in The Goldman Sachs Group during the second quarter worth about $778,000. Vise Technologies Inc. bought a new position in The Goldman Sachs Group in the 2nd quarter valued at about $6,230,000. Alpha Cubed Investments LLC raised its position in shares of The Goldman Sachs Group by 35.2% in the 2nd quarter. Alpha Cubed Investments LLC now owns 99,128 shares of the investment management company’s stock valued at $70,158,000 after buying an additional 25,821 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of The Goldman Sachs Group by 9.7% during the 2nd quarter. Allworth Financial LP now owns 5,284 shares of the investment management company’s stock worth $3,739,000 after acquiring an additional 467 shares during the period. Finally, Davis R M Inc. boosted its position in shares of The Goldman Sachs Group by 30.3% during the 2nd quarter. Davis R M Inc. now owns 52,027 shares of the investment management company’s stock worth $36,822,000 after acquiring an additional 12,087 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GS. HSBC lifted their price objective on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. JMP Securities reaffirmed a “market perform” rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Barclays lifted their target price on The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $779.50.

Insider Transactions at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,244 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $786.03 on Monday. The stock has a 50-day moving average price of $778.04 and a two-hundred day moving average price of $702.51. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The company has a market capitalization of $235.75 billion, a PE ratio of 15.97, a P/E/G ratio of 1.43 and a beta of 1.41. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the previous year, the business posted $8.40 earnings per share. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. Analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is presently 32.50%.

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.