Gemmer Asset Management LLC Invests $229,000 in The Goldman Sachs Group, Inc. $GS

Gemmer Asset Management LLC acquired a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 324 shares of the investment management company’s stock, valued at approximately $229,000.

Several other large investors have also modified their holdings of GS. Canada Pension Plan Investment Board raised its holdings in The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after buying an additional 116,535 shares during the period. Clear Creek Financial Management LLC purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $321,000. Blueshift Asset Management LLC raised its holdings in The Goldman Sachs Group by 161.8% in the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock valued at $576,000 after buying an additional 652 shares during the period. Adams Diversified Equity Fund Inc. raised its holdings in The Goldman Sachs Group by 41.5% in the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock valued at $27,205,000 after buying an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $1,643,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the sale, the chief financial officer owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Up 1.4%

Shares of NYSE:GS opened at $790.32 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The company has a 50 day moving average of $755.05 and a two-hundred day moving average of $655.73. The company has a market capitalization of $239.25 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the company earned $8.62 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $4.00 per share. The ex-dividend date of this dividend was Friday, August 29th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is 35.26%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Saturday, September 27th. Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a report on Thursday, July 17th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $717.00.

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 financing under securities to resale agreements.