Cullen Frost Bankers Inc. Increases Position in The Goldman Sachs Group, Inc. $GS

Cullen Frost Bankers Inc. lifted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 184.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 284 shares of the investment management company’s stock after purchasing an additional 184 shares during the period. Cullen Frost Bankers Inc.’s holdings in The Goldman Sachs Group were worth $201,000 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 recently modified their holdings of GS. Kingstone Capital Partners Texas LLC increased its stake in shares of The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after purchasing an additional 29,053,586 shares in the last quarter. Nuveen LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter worth $897,185,000. Ninety One UK Ltd purchased a new stake in shares of The Goldman Sachs Group in the second quarter worth $408,780,000. Cohen Investment Advisors LLC boosted its position in shares of The Goldman Sachs Group by 5,559.2% during the first quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company’s stock worth $256,876,000 after acquiring an additional 461,911 shares during the last quarter. Finally, Amundi boosted its position in shares of The Goldman Sachs Group by 13.6% during the first quarter. Amundi now owns 1,891,260 shares of the investment management company’s stock worth $967,193,000 after acquiring an additional 225,993 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GS. Morgan Stanley lowered their price objective on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a research report on Friday, October 17th. Barclays increased their price objective on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. UBS Group increased their price objective on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Finally, Citigroup increased their price objective on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a research report on Thursday, October 16th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and an average target price of $779.50.

The Goldman Sachs Group Trading Up 4.4%

GS stock opened at $784.09 on Friday. The company has a market capitalization of $237.36 billion, a PE ratio of 15.93, a P/E/G ratio of 1.43 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The firm’s 50-day moving average is $767.57 and its 200 day moving average is $680.36. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter last year, the firm posted $8.40 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is presently 32.50%.

Insider Buying and Selling

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

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.