Sterling Investment Management LLC Reduces Stock Position in The Goldman Sachs Group, Inc. $GS

Sterling Investment Management LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,144 shares of the investment management company’s stock after selling 19 shares during the period. The Goldman Sachs Group accounts for approximately 1.9% of Sterling Investment Management LLC’s portfolio, making the stock its 19th largest holding. Sterling Investment Management LLC’s holdings in The Goldman Sachs Group were worth $2,933,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC increased its holdings in shares of The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after purchasing an additional 29,053,586 shares during the period. Northern Trust Corp raised its position in shares of The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company’s stock worth $1,820,677,000 after buying an additional 40,125 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter worth $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 buying an additional 120,272 shares in the last quarter. Finally, Amundi raised its position in shares of The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company’s stock worth $967,193,000 after buying an additional 225,993 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 0.5%

Shares of NYSE:GS opened at $759.22 on Wednesday. The stock’s 50-day moving average price is $766.45 and its 200-day moving average price is $674.16. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25. The stock has a market capitalization of $229.83 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.41 and a beta of 1.42. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period last year, the firm earned $8.40 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.50%.

Analysts Set New Price Targets

GS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Morgan Stanley lowered their price objective on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 15th. Daiwa Capital Markets increased their price objective on The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a research report on Friday, October 17th. Finally, Royal Bank Of Canada restated a “neutral” rating and set a $843.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $779.50.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,707 shares of company stock worth $19,094,804 over the last ninety days. Insiders own 0.55% of the company’s stock.

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.