Poehling Capital Management LLC Sells 770 Shares of Goldman Sachs Group Inc (GS)
Poehling Capital Management LLC reduced its stake in Goldman Sachs Group Inc (NYSE:GS) by 19.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,235 shares of the investment management company’s stock after selling 770 shares during the period. Poehling Capital Management LLC’s holdings in Goldman Sachs Group were worth $714,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of GS. First Mercantile Trust Co. bought a new stake in Goldman Sachs Group during the second quarter worth $110,000. Crewe Advisors LLC lifted its stake in Goldman Sachs Group by 65.5% during the first quarter. Crewe Advisors LLC now owns 581 shares of the investment management company’s stock worth $146,000 after purchasing an additional 230 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in Goldman Sachs Group during the first quarter worth $151,000. Squar Milner Financial Services LLC bought a new stake in Goldman Sachs Group during the second quarter worth $157,000. Finally, Bedel Financial Consulting Inc. bought a new stake in Goldman Sachs Group during the first quarter worth $161,000. Institutional investors and hedge funds own 72.37% of the company’s stock.
Shares of GS opened at $233.38 on Monday. Goldman Sachs Group Inc has a 52 week low of $214.64 and a 52 week high of $275.31. The firm has a market capitalization of $86.69 billion, a PE ratio of 11.81, a PEG ratio of 0.72 and a beta of 1.31. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.90 and a quick ratio of 0.90.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, August 30th will be issued a $0.80 dividend. The ex-dividend date is Wednesday, August 29th. This represents a $3.20 dividend on an annualized basis and a yield of 1.37%. Goldman Sachs Group’s payout ratio is 16.19%.
In other Goldman Sachs Group news, insider David M. Solomon sold 8,488 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $237.92, for a total transaction of $2,019,464.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David M. Solomon sold 8,382 shares of the stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $232.08, for a total value of $1,945,294.56. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $259.00 target price for the company in a research note on Friday, July 20th. Societe Generale upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. Credit Suisse Group upgraded Goldman Sachs Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 17th. Keefe, Bruyette & Woods cut their target price on Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating for the company in a research note on Wednesday, July 18th. Finally, ValuEngine cut Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $273.41.
About Goldman Sachs Group
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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