SPX Gestao de Recursos Ltda Trims Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

SPX Gestao de Recursos Ltda reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 63.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,678 shares of the investment management company’s stock after selling 42,796 shares during the quarter. The Goldman Sachs Group accounts for 1.7% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 15th largest position. SPX Gestao de Recursos Ltda’s holdings in The Goldman Sachs Group were worth $11,162,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in GS. POM Investment Strategies LLC acquired a new stake in shares of The Goldman Sachs Group during the second quarter worth about $26,000. Semmax Financial Advisors Inc. purchased a new position in The Goldman Sachs Group in the 2nd quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of The Goldman Sachs Group during the second quarter worth $27,000. Versant Capital Management Inc raised its stake in shares of The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 34 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its stake in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

GS opened at $495.11 on Tuesday. The stock’s 50 day simple moving average is $492.41 and its 200 day simple moving average is $459.74. The stock has a market cap of $159.66 billion, a P/E ratio of 19.33, a P/E/G ratio of 0.78 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26. 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 (NYSE:GS) last announced its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 35.43 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.42%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is presently 46.86%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GS shares. UBS Group boosted their price objective on The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods raised their price target on 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. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Citigroup boosted 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 report on Tuesday, July 16th. Finally, Evercore ISI upped their price objective on shares of The Goldman Sachs Group from $475.00 to $520.00 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $496.44.

Insider Buying and Selling at The Goldman Sachs Group

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