Hilltop Holdings Inc. Lowers Stock Position in The Goldman Sachs Group, Inc. $GS

Hilltop Holdings Inc. cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 29.4% in the 1st quarter, HoldingsChannel reports. The firm owned 2,739 shares of the investment management company’s stock after selling 1,142 shares during the period. Hilltop Holdings Inc.’s holdings in The Goldman Sachs Group were worth $2,317,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Garton & Associates Financial Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $26,000. Manning & Napier Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 287.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after acquiring an additional 23 shares during the last quarter. Steph & Co. purchased a new position in The Goldman Sachs Group in the first quarter worth $27,000. Lifetime Wealth Management P.C. purchased a new position in The Goldman Sachs Group in the fourth quarter worth $29,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

GS stock opened at $1,059.81 on Friday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.63 and a current ratio of 1.11. The Goldman Sachs Group, Inc. has a 52 week low of $694.05 and a 52 week high of $1,153.99. The firm’s fifty day moving average is $1,047.33 and its 200 day moving average is $951.92. The firm has a market cap of $312.65 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.09 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GSGet Free Report) last issued its earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion for the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The firm’s revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the company earned $10.91 EPS. Research analysts predict that The Goldman Sachs Group, Inc. will post 68.83 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a $5.00 dividend. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 30.87%.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 6,857 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the sale, the chief financial officer owned 31,070 shares of the company’s stock, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the sale, the chief accounting officer owned 6,338 shares of the company’s stock, valued at $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 31,450 shares of company stock worth $29,668,201. Company insiders own 0.55% of the company’s stock.

Key Stories Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GS shares. Wells Fargo & Company raised their price target on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a “market perform” rating in a report on Wednesday, July 15th. CICC Research increased their price objective on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Jefferies Financial Group set a $1,299.00 price objective on The Goldman Sachs Group in a research report on Wednesday, July 15th. Finally, Oppenheimer cut The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus price target of $1,061.43.

Check Out Our Latest Report on GS

The Goldman Sachs Group Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

Further Reading

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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