The Goldman Sachs Group, Inc. $GS Position Trimmed by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,100 shares of the investment management company’s stock after selling 200 shares during the quarter. Hennessy Advisors Inc.’s holdings in The Goldman Sachs Group were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Mechanics Financial Corp lifted its holdings in shares of The Goldman Sachs Group by 5.8% during the 2nd quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock valued at $208,000 after buying an additional 16 shares during the last quarter. Ridgewood Investments LLC lifted its holdings in shares of The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after buying an additional 17 shares during the last quarter. Bank of Stockton lifted its holdings in shares of The Goldman Sachs Group by 0.7% during the 2nd quarter. Bank of Stockton now owns 2,485 shares of the investment management company’s stock valued at $1,759,000 after buying an additional 17 shares during the last quarter. Western Financial Corp CA lifted its holdings in shares of The Goldman Sachs Group by 0.5% during the 2nd quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company’s stock valued at $2,546,000 after buying an additional 17 shares during the last quarter. Finally, Ameriflex Group Inc. lifted its holdings in shares of The Goldman Sachs Group by 21.4% during the 2nd quarter. Ameriflex Group Inc. now owns 102 shares of the investment management company’s stock valued at $70,000 after buying an additional 18 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

GS opened at $790.32 on Friday. The stock has a market cap of $239.25 billion, a PE ratio of 17.42, a P/E/G ratio of 1.64 and a beta of 1.42. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The stock’s 50 day simple moving average is $755.05 and its 200-day simple moving average is $655.73.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the business posted $8.62 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on The Goldman Sachs Group from $750.00 to $843.00 and gave the company a “sector perform” rating in a report on Wednesday. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods boosted their target price on 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. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $717.00.

Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by insiders.

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.