The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 9.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,722 shares of the investment management company’s stock after selling 563 shares during the quarter. Carnegie Investment Counsel’s holdings in The Goldman Sachs Group were worth $2,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GS. Tennessee Valley Asset Management Partners bought a new stake in The Goldman Sachs Group in the fourth quarter valued at $162,000. Federated Hermes Inc. increased its holdings in shares of The Goldman Sachs Group by 8.9% during the fourth quarter. Federated Hermes Inc. now owns 115,927 shares of the investment management company’s stock valued at $44,721,000 after purchasing an additional 9,507 shares during the period. Zhang Financial LLC lifted its holdings in The Goldman Sachs Group by 4.7% in the fourth quarter. Zhang Financial LLC now owns 2,375 shares of the investment management company’s stock worth $916,000 after purchasing an additional 107 shares during the period. Wetzel Investment Advisors Inc. bought a new position in The Goldman Sachs Group in the 4th quarter valued at about $42,000. Finally, Onyx Bridge Wealth Group LLC acquired a new position in The Goldman Sachs Group during the 4th quarter valued at about $207,000. 71.21% of the stock is currently owned by institutional investors.

Insider Activity at The Goldman Sachs Group

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s 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 transaction, the insider now owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 that occurred on 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 of the company’s stock, valued at approximately $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now directly owns 12,450 shares in the company, 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 90 days. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on GS shares. BMO Capital Markets raised their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Citigroup lifted their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Barclays boosted their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley lifted their price target on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $495.94.

The Goldman Sachs Group Stock Down 1.5 %

NYSE GS traded down $7.39 on Tuesday, reaching $497.29. The stock had a trading volume of 1,431,831 shares, compared to its average volume of 2,317,640. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The business has a 50 day moving average price of $476.07 and a 200 day moving average price of $437.30. The company has a current ratio of 1.12, a quick ratio of 0.74 and a debt-to-equity ratio of 1.97. The company has a market capitalization of $160.36 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 0.99 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating the consensus estimate of $8.52 by $0.10. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates 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, analysts forecast that The Goldman Sachs Group, Inc. will post 36.74 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm 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 dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is currently 46.86%.

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.