Sompo Asset Management Co. Ltd. Cuts Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Sompo Asset Management Co. Ltd. reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,040 shares of the investment management company’s stock after selling 70 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in The Goldman Sachs Group were worth $923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. POM Investment Strategies LLC bought a new stake in The Goldman Sachs Group in the second quarter worth $26,000. Headlands Technologies LLC bought a new stake in The Goldman Sachs Group in the second quarter worth $27,000. First Personal Financial Services bought a new stake in The Goldman Sachs Group in the first quarter worth $25,000. SJS Investment Consulting Inc. lifted its position in 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 worth $28,000 after buying an additional 31 shares during the last quarter. Finally, Quest Partners LLC lifted its position in shares of The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction dated 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 directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Brian J. Lee sold 3,500 shares of the firm’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 owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas K. Montag sold 10,000 shares of the company’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 completion of the transaction, 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. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

GS has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Evercore ISI lifted their target price on 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. UBS Group lifted their target price 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. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $496.44.

The Goldman Sachs Group Price Performance

NYSE GS opened at $498.28 on Friday. The company has a market cap of $160.68 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 current ratio of 0.72 and a quick ratio of 0.72. The stock’s fifty day moving average price is $491.96 and its 200 day moving average price is $454.28. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, August 30th. This is an increase 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 payout ratio is currently 46.86%.

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.