Intech Investment Management LLC Lowers Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Intech Investment Management LLC trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 33.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,592 shares of the investment management company’s stock after selling 13,662 shares during the quarter. Intech Investment Management LLC’s holdings in The Goldman Sachs Group were worth $12,480,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. ProVise Management Group LLC purchased a new stake in The Goldman Sachs Group in the second quarter valued at approximately $285,000. Leuthold Group LLC acquired a new position in The Goldman Sachs Group during the second quarter valued at approximately $6,760,000. XTX Topco Ltd lifted its position in The Goldman Sachs Group by 193.3% during the second quarter. XTX Topco Ltd now owns 10,255 shares of the investment management company’s stock valued at $4,639,000 after buying an additional 6,758 shares in the last quarter. Mittelman Wealth Management lifted its position in The Goldman Sachs Group by 37.4% during the second quarter. Mittelman Wealth Management now owns 3,429 shares of the investment management company’s stock valued at $1,551,000 after buying an additional 933 shares in the last quarter. Finally, Soundwatch Capital LLC acquired a new position in The Goldman Sachs Group during the second quarter valued at approximately $806,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Wells Fargo & Company lifted their price target on shares of 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. UBS Group lifted their price target on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods lifted 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 report on Thursday, June 27th. Finally, Seaport Res Ptn cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $496.44.

The Goldman Sachs Group Stock Down 1.1 %

Shares of NYSE:GS opened at $498.28 on Friday. 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 company has a fifty day simple moving average of $491.96 and a 200 day simple moving average of $454.28. The firm has a market cap of $160.68 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.41%. 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. The Goldman Sachs Group’s payout ratio is 46.86%.

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 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 completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The Goldman Sachs Group news, 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 completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

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.