Meritage Portfolio Management cut its stake in Goldman Sachs Group, Inc. (The) (NYSE:GS) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,366 shares of the investment management company’s stock after selling 295 shares during the period. Meritage Portfolio Management’s holdings in Goldman Sachs Group, Inc. (The) were worth $4,297,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Goldman Sachs Group, Inc. (The) by 3,301.2% in the first quarter. BlackRock Inc. now owns 24,569,536 shares of the investment management company’s stock valued at $5,644,114,000 after buying an additional 23,847,154 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Goldman Sachs Group, Inc. (The) by 4.4% in the first quarter. Vanguard Group Inc. now owns 23,768,377 shares of the investment management company’s stock valued at $5,460,072,000 after buying an additional 1,001,162 shares in the last quarter. State Street Corp boosted its position in shares of Goldman Sachs Group, Inc. (The) by 2.7% in the first quarter. State Street Corp now owns 22,851,344 shares of the investment management company’s stock valued at $5,249,408,000 after buying an additional 603,165 shares in the last quarter. FMR LLC boosted its position in shares of Goldman Sachs Group, Inc. (The) by 10.9% in the first quarter. FMR LLC now owns 10,995,425 shares of the investment management company’s stock valued at $2,525,869,000 after buying an additional 1,084,624 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Goldman Sachs Group, Inc. (The) by 8.4% in the first quarter. Geode Capital Management LLC now owns 3,743,111 shares of the investment management company’s stock valued at $858,692,000 after buying an additional 289,159 shares in the last quarter. 74.66% of the stock is currently owned by institutional investors.

Shares of Goldman Sachs Group, Inc. (NYSE:GS) traded down 0.04% during mid-day trading on Wednesday, hitting $227.51. 889,394 shares of the stock were exchanged. Goldman Sachs Group, Inc. has a 12-month low of $157.77 and a 12-month high of $255.15. The firm has a 50-day moving average price of $225.55 and a 200 day moving average price of $229.49. The company has a market capitalization of $88.32 billion, a PE ratio of 11.93 and a beta of 1.42.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 18th. The investment management company reported $3.95 earnings per share for the quarter, topping the consensus estimate of $3.39 by $0.56. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.47 billion. Goldman Sachs Group, Inc. (The) had a net margin of 26.44% and a return on equity of 11.27%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $3.72 EPS. On average, equities research analysts expect that Goldman Sachs Group, Inc. will post $18.23 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.32%. Goldman Sachs Group, Inc. (The)’s dividend payout ratio is currently 15.74%.

Goldman Sachs Group, Inc. (The) announced that its board has approved a stock repurchase plan on Tuesday, April 18th that authorizes the company to repurchase 50,000,000 shares. This repurchase authorization authorizes the investment management company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: “Meritage Portfolio Management Sells 295 Shares of Goldman Sachs Group, Inc. (The) (GS)” was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://www.watchlistnews.com/meritage-portfolio-management-sells-295-shares-of-goldman-sachs-group-inc-the-gs/1495774.html.

GS has been the topic of several recent research reports. Royal Bank Of Canada lowered their price objective on shares of Goldman Sachs Group, Inc. (The) to $250.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 18th. Credit Suisse Group reaffirmed a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a research note on Wednesday, April 19th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, June 12th. Rafferty Capital Markets downgraded shares of Goldman Sachs Group, Inc. (The) from a “buy” rating to a “hold” rating and dropped their target price for the stock from $288.00 to $221.00 in a research report on Tuesday, April 18th. Finally, Vetr downgraded shares of Goldman Sachs Group, Inc. (The) from a “sell” rating to a “strong sell” rating and set a $191.87 target price on the stock. in a research report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Goldman Sachs Group, Inc. (The) currently has an average rating of “Hold” and a consensus target price of $235.44.

In other news, insider David M. Solomon sold 3,260 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $231.59, for a total value of $754,983.40. Following the completion of the sale, the insider now owns 177,594 shares of the company’s stock, valued at approximately $41,128,994.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David A. Viniar sold 4,590 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $227.79, for a total value of $1,045,556.10. Following the completion of the sale, the director now directly owns 854,925 shares of the company’s stock, valued at approximately $194,743,365.75. The disclosure for this sale can be found here. Insiders have sold a total of 25,535 shares of company stock valued at $5,956,868 over the last ninety days. Company insiders own 2.57% of the company’s stock.

Goldman Sachs Group, Inc. (The) Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Goldman Sachs Group, Inc. (The) (NYSE:GS).

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

Receive News & Ratings for Goldman Sachs Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group Inc. (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.