First Pacific Financial Decreases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

First Pacific Financial lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,147 shares of the investment management company’s stock after selling 60 shares during the quarter. First Pacific Financial’s holdings in The Goldman Sachs Group were worth $1,423,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. First Personal Financial Services purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $25,000. SJS Investment Consulting Inc. grew its holdings in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Versant Capital Management Inc lifted its position in The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after acquiring an additional 34 shares in the last quarter. First United Bank & Trust acquired a new position in The Goldman Sachs Group during the 4th quarter worth approximately $26,000. Finally, Triad Wealth Partners LLC acquired a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock traded up $0.42 on Monday, hitting $504.68. 973,957 shares of the stock traded hands, compared to its average volume of 2,323,209. The company has a market capitalization of $162.74 billion, a PE ratio of 19.71, a PEG ratio of 0.99 and a beta of 1.37. The company’s fifty day moving average is $476.07 and its 200 day moving average is $437.30. 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 Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The firm had revenue of $12.73 billion during 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%. On average, equities research analysts predict 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $3.00 per share. This is an increase 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 is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Analysts Set New Price Targets

Several research firms recently commented on GS. Oppenheimer boosted their price target on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Citigroup boosted their price target on 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. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Morgan Stanley boosted their price target on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Five research 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 presently has an average rating of “Moderate Buy” and an average target price of $495.94.

Insider Buying and Selling

In related news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the sale, the director now 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 in the last three months. 0.54% of the stock is owned by insiders.

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.