Institute for Wealth Management LLC. Sells 44 Shares of The Goldman Sachs Group, Inc. $GS

Institute for Wealth Management LLC. lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,250 shares of the investment management company’s stock after selling 44 shares during the quarter. The Goldman Sachs Group comprises 0.8% of Institute for Wealth Management LLC.’s portfolio, making the stock its 12th largest holding. Institute for Wealth Management LLC.’s holdings in The Goldman Sachs Group were worth $7,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group during the first quarter worth approximately $25,000. American Capital Advisory LLC bought a new stake in The Goldman Sachs Group during the first quarter worth approximately $29,000. Godsey & Gibb Inc. boosted its position in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after purchasing an additional 34 shares during the period. Cornerstone Planning Group LLC boosted its position in The Goldman Sachs Group by 46.9% during the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock worth $38,000 after purchasing an additional 23 shares during the period. Finally, Ridgewood Investments LLC boosted its position in The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the period. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $796.20 on Wednesday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a fifty day moving average price of $751.18 and a two-hundred day moving average price of $650.88. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The firm has a market capitalization of $241.02 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.67 and a beta of 1.41.

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

The Goldman Sachs Group Increases Dividend

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

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, the chief financial officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares of the company’s stock, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 in the last three months. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GS. Wall Street Zen raised The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Morgan Stanley increased their price objective on The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a research report on Monday. Royal Bank Of Canada reissued a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. JMP Securities reissued a “market perform” rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Hsbc Global Res cut The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $690.27.

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.