Means Investment CO. Inc. Lowers Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Means Investment CO. Inc. lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 7,822 shares of the investment management company’s stock after selling 481 shares during the quarter. Means Investment CO. Inc.’s holdings in The Goldman Sachs Group were worth $3,538,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. First Personal Financial Services purchased a new position in The Goldman Sachs Group during the first quarter valued at $25,000. First United Bank & Trust purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $26,000. Versant Capital Management Inc grew its position in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 34 shares in the last quarter. SJS Investment Consulting Inc. increased its stake in The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Finally, Pineridge Advisors LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Up 0.1 %

The Goldman Sachs Group stock traded up $0.42 during mid-day trading on Monday, reaching $504.68. 1,027,758 shares of the company were exchanged, compared to its average volume of 2,323,209. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26. The business has a fifty day moving average of $475.05 and a 200 day moving average of $436.45. The firm has a market cap of $162.74 billion, a P/E ratio of 19.71, a PEG ratio of 0.99 and a beta of 1.37. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.74 and a current ratio of 1.12.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.26% and a net margin of 9.36%. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 36.74 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $3.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.38%. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Evercore ISI raised their price objective on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Citigroup boosted their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $461.00 to $464.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Oppenheimer raised their price target on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $495.94.

Insider Buying and Selling at The Goldman Sachs Group

In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the sale, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the sale, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the sale, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. Insiders sold a total of 4,013,500 shares of company stock worth $32,181,365 over the last three months. Corporate insiders own 0.54% 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.