Miracle Mile Advisors LLC Sells 276 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Miracle Mile Advisors LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,478 shares of the investment management company’s stock after selling 276 shares during the period. Miracle Mile Advisors LLC’s holdings in The Goldman Sachs Group were worth $2,478,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Triad Wealth Partners LLC bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at $31,000. Fiduciary Financial Group LLC bought a new position in shares of The Goldman Sachs Group in the second quarter worth about $504,000. W.H. Cornerstone Investments Inc. purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at about $211,000. Atwater Malick LLC grew its stake in shares of The Goldman Sachs Group by 0.5% during the 2nd quarter. Atwater Malick LLC now owns 25,329 shares of the investment management company’s stock valued at $11,457,000 after acquiring an additional 119 shares during the period. Finally, Clear Harbor Asset Management LLC increased its holdings in The Goldman Sachs Group by 3.0% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 1,474 shares of the investment management company’s stock worth $667,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Citigroup upped their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Barclays lifted their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets upped their price target on 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. Finally, Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus target price of $495.94.

The Goldman Sachs Group Trading Up 1.1 %

Shares of NYSE:GS traded up $5.24 during trading on Friday, hitting $504.26. The company had a trading volume of 1,587,216 shares, compared to its average volume of 2,331,405. The stock has a market cap of $162.61 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 0.74. The company has a fifty day simple moving average of $475.05 and a two-hundred day simple moving average of $435.74. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $517.26.

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

The Goldman Sachs Group Increases Dividend

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

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. Insiders sold a total of 4,013,500 shares of company stock valued at $32,181,365 over the last 90 days. 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.