The Goldman Sachs Group, Inc. $GS Position Reduced by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,805 shares of the investment management company’s stock after selling 111 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in The Goldman Sachs Group were worth $6,232,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GS. Clal Insurance Enterprises Holdings Ltd purchased a new stake in The Goldman Sachs Group during the first quarter valued at about $25,000. American Capital Advisory LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter worth approximately $29,000. Godsey & Gibb Inc. lifted its position in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter worth approximately $31,000. Finally, Lowe Wealth Advisors LLC lifted its position in shares of The Goldman Sachs Group by 326.7% in the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock worth $35,000 after purchasing an additional 49 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Trading Down 0.5%

NYSE:GS opened at $780.87 on Monday. The stock’s 50 day moving average price is $728.85 and its 200 day moving average price is $631.75. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $793.17. The company has a market capitalization of $236.38 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.64 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the company posted $8.62 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is 35.26%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. HSBC reissued a “reduce” rating and issued a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Hsbc Global Res downgraded The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus target price of $660.00.

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.