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

Viawealth LLC cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 20.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 740 shares of the investment management company’s stock after selling 196 shares during the period. Viawealth LLC’s holdings in The Goldman Sachs Group were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Veritable L.P. raised its stake in shares of The Goldman Sachs Group by 0.6% in the first quarter. Veritable L.P. now owns 11,902 shares of the investment management company’s stock valued at $3,893,000 after acquiring an additional 66 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter worth approximately $80,637,000. Prospera Financial Services Inc raised its holdings in shares of The Goldman Sachs Group by 22.2% in the first quarter. Prospera Financial Services Inc now owns 8,316 shares of the investment management company’s stock worth $2,724,000 after buying an additional 1,511 shares during the period. Callan Family Office LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter worth approximately $1,179,000. Finally, Lodge Hill Capital LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter worth approximately $10,631,000. 69.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on GS shares. Citigroup downgraded shares of The Goldman Sachs Group from a “buy” rating to a “neutral” rating and raised their price target for the stock from $370.00 to $400.00 in a research note on Tuesday, July 25th. BMO Capital Markets raised their price target on shares of The Goldman Sachs Group from $407.00 to $411.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. StockNews.com assumed coverage on The Goldman Sachs Group in a research report on Thursday, August 17th. They set a “hold” rating for the company. Societe Generale downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Finally, Odeon Capital Group upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $355.75 price objective for the company in a report on Thursday, July 13th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $396.04.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $356.28, for a total value of $1,496,376.00. Following the completion of the transaction, the chief executive officer now owns 124,782 shares of the company’s stock, valued at $44,457,330.96. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO David M. Solomon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $345.71, for a total value of $3,457,100.00. Following the sale, the chief executive officer now owns 128,982 shares in the company, valued at $44,590,367.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David M. Solomon sold 4,200 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $356.28, for a total transaction of $1,496,376.00. Following the sale, the chief executive officer now owns 124,782 shares of the company’s stock, valued at $44,457,330.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,159,686 shares of company stock valued at $123,960,027. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $325.28 on Friday. The Goldman Sachs Group, Inc. has a 12-month low of $287.75 and a 12-month high of $389.58. The business’s fifty day simple moving average is $334.45 and its 200-day simple moving average is $331.82. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.18. The company has a market cap of $107.24 billion, a PE ratio of 13.88, a PEG ratio of 1.25 and a beta of 1.40.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, July 19th. The investment management company reported $3.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.17). The business had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.61 billion. The Goldman Sachs Group had a net margin of 9.74% and a return on equity of 8.27%. The company’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $7.73 earnings per share. Analysts expect that The Goldman Sachs Group, Inc. will post 25.74 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, August 31st will be paid a $2.75 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.50. This represents a $11.00 dividend on an annualized basis and a yield of 3.38%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 46.93%.

The Goldman Sachs Group Company 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 resale agreements.