Thoroughbred Financial Services LLC Trims Stake in The Goldman Sachs Group, Inc. $GS

Thoroughbred Financial Services LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 32.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,129 shares of the investment management company’s stock after selling 2,471 shares during the period. Thoroughbred Financial Services LLC’s holdings in The Goldman Sachs Group were worth $3,630,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Canada Pension Plan Investment Board lifted its holdings in shares of The Goldman Sachs Group by 28.6% during the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after purchasing an additional 116,535 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of The Goldman Sachs Group by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock worth $2,392,124,000 after buying an additional 157,473 shares during the last quarter. Blueshift Asset Management LLC increased its position in The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock valued at $576,000 after buying an additional 652 shares in the last quarter. Jump Financial LLC purchased a new position in The Goldman Sachs Group during the first quarter valued at $9,596,000. Finally, Wells Trecaso Financial Group LLC boosted its holdings in The Goldman Sachs Group by 0.5% in the second quarter. Wells Trecaso Financial Group LLC now owns 21,534 shares of the investment management company’s stock worth $15,240,000 after acquiring an additional 108 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Down 1.9%

Shares of The Goldman Sachs Group stock opened at $790.56 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $841.28. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The company’s 50 day moving average is $785.07 and its 200 day moving average is $709.46. The company has a market cap of $237.11 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The business had revenue of $15.18 billion during the quarter, compared to the consensus estimate of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.40 EPS. Research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GS. Barclays raised their price target on The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Wells Fargo & Company increased their price objective 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 8th. BNP Paribas Exane upped their target price on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Royal Bank Of Canada reissued a “neutral” rating and set a $843.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, October 14th. Four 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $786.00.

Insider Transactions at The Goldman Sachs Group

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 stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the sale, 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 this hyperlink. Insiders own 0.55% of the company’s stock.

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.