Mcrae Capital Management Inc. Boosts Holdings in The Goldman Sachs Group, Inc. $GS

Mcrae Capital Management Inc. grew its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 53.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,553 shares of the investment management company’s stock after buying an additional 2,615 shares during the period. The Goldman Sachs Group accounts for about 1.1% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 28th largest position. Mcrae Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $5,346,000 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 the stock. Eukles Asset Management raised its position in shares of The Goldman Sachs Group by 2.4% during the 2nd quarter. Eukles Asset Management now owns 2,041 shares of the investment management company’s stock valued at $1,444,000 after buying an additional 47 shares in the last quarter. Twin Capital Management Inc. grew its position in The Goldman Sachs Group by 0.5% in the second quarter. Twin Capital Management Inc. now owns 10,757 shares of the investment management company’s stock worth $7,613,000 after acquiring an additional 55 shares in the last quarter. Washington Trust Bank increased its stake in The Goldman Sachs Group by 6.2% during the second quarter. Washington Trust Bank now owns 32,451 shares of the investment management company’s stock worth $22,967,000 after acquiring an additional 1,881 shares during the last quarter. Achmea Investment Management B.V. raised its position in The Goldman Sachs Group by 335.3% during the second quarter. Achmea Investment Management B.V. now owns 39,109 shares of the investment management company’s stock valued at $27,679,000 after purchasing an additional 30,125 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in shares of The Goldman Sachs Group by 5.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 133,574 shares of the investment management company’s stock valued at $94,537,000 after purchasing an additional 6,365 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,244 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GS. Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a report on Friday, October 17th. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. BMO Capital Markets started coverage on shares of The Goldman Sachs Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price objective on the stock. Finally, BNP Paribas Exane boosted their target price on The Goldman Sachs Group from $685.00 to $775.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $779.50.

The Goldman Sachs Group Trading Down 0.7%

NYSE GS opened at $787.24 on Friday. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The company has a market capitalization of $236.12 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The company’s 50-day simple moving average is $777.23 and its two-hundred day simple moving average is $698.07.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.27 by $1.98. The business had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $8.40 EPS. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

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.