Gabelli Funds LLC Reduces Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Gabelli Funds LLC lessened its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,500 shares of the investment management company’s stock after selling 6,200 shares during the quarter. Gabelli Funds LLC’s holdings in The Goldman Sachs Group were worth $34,602,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GS. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group during the first quarter worth about $1,903,374,000. AMF Tjanstepension AB boosted its position 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 grew its stake in shares of 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 last quarter. 1832 Asset Management L.P. grew its stake in shares of The Goldman Sachs Group by 7,932.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after buying an additional 438,754 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in The Goldman Sachs Group by 878.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock valued at $179,608,000 after buying an additional 356,512 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brian J. Lee sold 3,500 shares of the company’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 completion of the transaction, 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 Securities & Exchange Commission, which is available at this link. In other news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred 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 sale, 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 is available at this link. Also, 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 transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the topic of several analyst reports. 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 report on Tuesday, July 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, BMO Capital Markets increased their target price on 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. Six 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 $496.44.

The Goldman Sachs Group Trading Down 1.1 %

Shares of The Goldman Sachs Group stock opened at $498.43 on Friday. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26. The company’s fifty day simple moving average is $491.96 and its 200-day simple moving average is $454.73. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $160.73 billion, a PE ratio of 19.46, a P/E/G ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released 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 Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, August 30th. This represents a $12.00 annualized dividend and a yield of 2.41%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is currently 46.86%.

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.