Fortitude Family Office LLC Sells 65 Shares of The Goldman Sachs Group, Inc. $GS

Fortitude Family Office LLC reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,899 shares of the investment management company’s stock after selling 65 shares during the period. Fortitude Family Office LLC’s holdings in The Goldman Sachs Group were worth $1,344,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in The Goldman Sachs Group during the first quarter worth about $25,000. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group during the first quarter worth about $29,000. Godsey & Gibb Inc. increased its holdings in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after buying an additional 34 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group during the fourth quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC increased its holdings in The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock worth $35,000 after buying an additional 49 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GS. Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a report on Thursday, July 17th. Morgan Stanley raised their price objective on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Finally, Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the stock an “outperform” rating in a report on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $665.00.

Insider Activity

In related news, EVP John F.W. Rogers sold 6,008 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares of the company’s stock, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 in the last three months. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $805.20 on Tuesday. The company’s 50 day moving average is $739.87 and its 200-day moving average is $640.52. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $809.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The firm has a market cap of $243.75 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

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

The Goldman Sachs Group Increases Dividend

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

The Goldman Sachs Group 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.