King Luther Capital Management Corp Sells 1,143 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

King Luther Capital Management Corp reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,021 shares of the investment management company’s stock after selling 1,143 shares during the quarter. King Luther Capital Management Corp’s holdings in The Goldman Sachs Group were worth $3,628,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GS. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group during the first quarter valued at approximately $1,903,374,000. AMF Tjanstepension AB increased its holdings in shares of The Goldman Sachs Group by 1,102.4% during the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after acquiring an additional 743,402 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of The Goldman Sachs Group by 27.0% during the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after acquiring an additional 464,954 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of The Goldman Sachs Group by 878.8% during the second 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 during the last quarter. Finally, Focused Investors Fund L P purchased a new position in shares of The Goldman Sachs Group during the first quarter valued at approximately $146,317,000. 71.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

The Goldman Sachs Group Stock Performance

Shares of GS opened at $498.43 on Friday. The firm has a market cap of $160.73 billion, a PE ratio of 19.46, a PEG ratio of 0.73 and a beta of 1.36. The stock’s fifty day moving average price is $491.96 and its two-hundred day moving average price 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 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 released its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $12.60 billion. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced 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 is a positive change 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 2.41%. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

Analyst Upgrades and Downgrades

GS has been the topic of several analyst reports. Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Citigroup lifted their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Oppenheimer lifted their target price on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $496.44.

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.