Steel Grove Capital Advisors LLC Sells 26 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Steel Grove Capital Advisors LLC decreased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,383 shares of the investment management company’s stock after selling 26 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in The Goldman Sachs Group were worth $626,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. POM Investment Strategies LLC bought a new position in The Goldman Sachs Group in the 2nd quarter valued at $26,000. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group in the second quarter worth about $27,000. First Personal Financial Services purchased a new position in The Goldman Sachs Group in the 1st quarter worth about $25,000. SJS Investment Consulting Inc. lifted its holdings in 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. Finally, Quest Partners LLC boosted its position in The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GS. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Wells Fargo & Company upped their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Barclays raised their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Citigroup upped their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, BMO Capital Markets raised their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $496.44.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $498.43 on Monday. The stock’s 50-day simple moving average is $491.96 and its 200-day simple moving average is $455.19. The firm 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 debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.26.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping the consensus estimate of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. As a group, equities analysts forecast 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $3.00 dividend. The ex-dividend date 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 dividend payout ratio is currently 46.86%.

Insider Transactions at The Goldman Sachs Group

In related news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 12,450 shares in the company, valued at $6,287,748. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 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. Company insiders own 0.54% of the company’s stock.

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.