Peregrine Asset Advisers Inc. Sells 187 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Peregrine Asset Advisers Inc. lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 17.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 866 shares of the investment management company’s stock after selling 187 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in The Goldman Sachs Group were worth $392,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GS. Moors & Cabot Inc. raised its holdings in shares of The Goldman Sachs Group by 3.5% during the second quarter. Moors & Cabot Inc. now owns 2,637 shares of the investment management company’s stock valued at $1,193,000 after acquiring an additional 88 shares in the last quarter. Lmcg Investments LLC grew its holdings in shares of The Goldman Sachs Group by 0.9% during the 2nd quarter. Lmcg Investments LLC now owns 49,651 shares of the investment management company’s stock worth $22,458,000 after acquiring an additional 444 shares during the period. Citizens Financial Group Inc. RI raised its position in shares of The Goldman Sachs Group by 2,817.1% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 37,747 shares of the investment management company’s stock worth $17,074,000 after acquiring an additional 36,453 shares in the last quarter. One Capital Management LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter valued at approximately $243,000. Finally, Sierra Summit Advisors LLC grew its stake in The Goldman Sachs Group by 19.5% in the second quarter. Sierra Summit Advisors LLC now owns 955 shares of the investment management company’s stock worth $432,000 after purchasing an additional 156 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GS. Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Citigroup lifted their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, BMO Capital Markets upped their price target on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $496.44.

The Goldman Sachs Group Stock Up 1.3 %

NYSE GS opened at $485.16 on Tuesday. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $517.26. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $156.45 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36. The stock’s 50-day moving average price is $490.74 and its 200-day moving average price is $452.29.

The Goldman Sachs Group (NYSE:GS) last released its earnings results 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 analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.47%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

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.