Lumbard & Kellner LLC Has $8.11 Million Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Lumbard & Kellner LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,930 shares of the investment management company’s stock after selling 230 shares during the period. The Goldman Sachs Group accounts for about 3.8% of Lumbard & Kellner LLC’s portfolio, making the stock its 4th largest position. Lumbard & Kellner LLC’s holdings in The Goldman Sachs Group were worth $8,110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Empowered Funds LLC increased its stake in shares of The Goldman Sachs Group by 62.7% in the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after buying an additional 2,428 shares during the period. Duality Advisers LP acquired a new stake in shares of The Goldman Sachs Group during the first quarter worth $1,388,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in The Goldman Sachs Group by 34.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after purchasing an additional 2,103 shares during the last quarter. Bell & Brown Wealth Advisors LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at about $5,416,000. Finally, Axxcess Wealth Management LLC boosted its holdings in The Goldman Sachs Group by 25.5% during the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after buying an additional 2,442 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Trading Up 1.3 %

Shares of The Goldman Sachs Group stock opened at $485.16 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock has a fifty day simple moving average of $490.74 and a 200 day simple moving average of $452.29. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26. The company has a market capitalization of $156.45 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is presently 46.86%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley upped their price target on The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $496.44.

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.