Edge Capital Group LLC Decreases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Edge Capital Group LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 10.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 952 shares of the investment management company’s stock after selling 106 shares during the period. Edge Capital Group LLC’s holdings in The Goldman Sachs Group were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. First Personal Financial Services purchased a new stake in The Goldman Sachs Group in the first quarter valued at $25,000. POM Investment Strategies LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $27,000. Versant Capital Management Inc raised its stake in shares of The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares during the period. Finally, SJS Investment Consulting Inc. lifted its position in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

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

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $498.43 on Monday. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.26. The stock’s 50-day moving average is $491.96 and its two-hundred day moving average is $455.19. 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 firm has a market cap of $160.73 billion, a P/E ratio of 19.46, a PEG ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The firm 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 10.56% and a net margin of 9.36%. Analysts predict 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $3.00 dividend. 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. This represents a $12.00 dividend on an annualized basis and a yield of 2.41%. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GS. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price target on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Finally, Oppenheimer lifted their price objective on 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. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average target price 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.