Greenwich Wealth Management LLC Decreases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Greenwich Wealth Management LLC cut its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 29,125 shares of the investment management company’s stock after selling 139 shares during the period. The Goldman Sachs Group makes up about 1.0% of Greenwich Wealth Management LLC’s holdings, making the stock its 15th largest holding. Greenwich Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $13,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group in the 1st quarter valued at about $1,903,374,000. Norges Bank bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $1,120,119,000. AMF Tjanstepension AB lifted its stake in shares of The Goldman Sachs Group by 1,102.4% during the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after buying an additional 743,402 shares in the last quarter. Wellington Management Group LLP boosted its holdings in The Goldman Sachs Group by 27.0% in the 4th quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after buying an additional 464,954 shares during the period. Finally, Verity & Verity LLC boosted its holdings in The Goldman Sachs Group by 26,378.2% in the 1st quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock worth $170,000 after buying an additional 406,224 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, 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 transaction, the director now owns 12,450 shares in the company, valued at $6,287,748. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the firm’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 sale, the insider now owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GS. Evercore ISI increased their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Morgan Stanley increased their price objective on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $496.44.

The Goldman Sachs Group Trading Up 1.0 %

NYSE GS opened at $478.99 on Monday. The stock’s 50-day simple moving average is $490.33 and its two-hundred day simple moving average is $451.61. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month 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 $154.46 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.52 by $0.10. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. Research analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm 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 $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.51%. 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 dividend payout ratio (DPR) is presently 46.86%.

The Goldman Sachs Group Company 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.