Crewe Advisors LLC Lowers Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Crewe Advisors LLC lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 322 shares of the investment management company’s stock after selling 32 shares during the period. Crewe Advisors LLC’s holdings in The Goldman Sachs Group were worth $145,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of The Goldman Sachs Group during the first quarter valued at approximately $1,903,374,000. Norges Bank purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $1,120,119,000. AMF Tjanstepension AB increased its holdings in shares of The Goldman Sachs Group by 1,102.4% in the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock worth $366,780,000 after purchasing an additional 743,402 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of The Goldman Sachs Group by 27.0% in the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after purchasing an additional 464,954 shares during the last quarter. Finally, Verity & Verity LLC raised its stake in shares of The Goldman Sachs Group by 26,378.2% in the first quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock worth $170,000 after purchasing an additional 406,224 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of GS traded up $3.13 during trading hours on Friday, reaching $510.25. 1,820,888 shares of the stock traded hands, compared to its average volume of 2,274,769. The company has a market cap of $164.54 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37. 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’s 50-day moving average price is $484.49 and its two-hundred day moving average price is $443.16. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $517.26.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, beating the consensus estimate of $8.52 by $0.10. The business had revenue of $12.73 billion for 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, analysts anticipate that The Goldman Sachs Group, Inc. will post 36.74 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 2.35%. 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%.

Analyst Ratings Changes

Several research firms recently commented on GS. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Oppenheimer boosted their target price 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. Barclays upped their price objective on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, BMO Capital Markets raised their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $495.94.

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 news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the director now directly owns 12,450 shares in the company, valued at $6,287,748. 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 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

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.