The Goldman Sachs Group, Inc. (NYSE:GS) Stock Position Reduced by Profund Advisors LLC

Profund Advisors LLC trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,810 shares of the investment management company’s stock after selling 338 shares during the quarter. Profund Advisors LLC’s holdings in The Goldman Sachs Group were worth $3,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC raised its holdings in shares of The Goldman Sachs Group by 62.7% during the first quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after purchasing an additional 2,428 shares during the period. Duality Advisers LP bought a new position in The Goldman Sachs Group in the first quarter worth about $1,388,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in The Goldman Sachs Group by 34.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after acquiring an additional 2,103 shares during the period. Bell & Brown Wealth Advisors LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $5,416,000. Finally, Axxcess Wealth Management LLC raised its position in shares of The Goldman Sachs Group by 25.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after purchasing an additional 2,442 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research note on Wednesday. Evercore ISI upped their price target on shares of 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. Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. Wells Fargo & Company upped their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Six investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $496.44.

Insider Activity

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was 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 approximately $6,287,748. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,770,965.00. Following the sale, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $498.43 on Friday. The firm has a 50-day moving average of $491.96 and a two-hundred day moving average of $454.73. The company has a market capitalization of $160.73 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 0.73 and a beta of 1.36. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month high of $517.26.

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 for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, August 30th. 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 dividend yield of 2.41%. The Goldman Sachs Group’s payout ratio is 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.