Harbor Investment Advisory LLC Trims Stake in The Goldman Sachs Group, Inc. $GS

Harbor Investment Advisory LLC reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 9.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,784 shares of the investment management company’s stock after selling 380 shares during the period. Harbor Investment Advisory LLC’s holdings in The Goldman Sachs Group were worth $2,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock valued at $2,172,423,000 after buying an additional 3,970,467 shares during the last quarter. Northern Trust Corp increased its holdings in The Goldman Sachs Group by 1.2% during the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company’s stock valued at $1,820,677,000 after buying an additional 40,125 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group during the first quarter valued at approximately $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of The Goldman Sachs Group by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company’s stock worth $1,138,527,000 after purchasing an additional 120,272 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of The Goldman Sachs Group by 15.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,963,836 shares of the investment management company’s stock worth $1,124,532,000 after purchasing an additional 256,204 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction 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 transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares of the company’s stock, valued at $86,463,679.48. This trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $780.87 on Friday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a fifty day moving average price of $728.85 and a 200 day moving average price of $631.49. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $793.17. The firm has a market cap of $236.39 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.65 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the business 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, sell-side analysts expect 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GS shares. Royal Bank Of Canada reiterated a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the stock an “outperform” rating in a research report on Thursday, July 10th. HSBC reiterated a “reduce” rating and issued a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $660.00.

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.