Cyndeo Wealth Partners LLC Has $2.66 Million Stock Holdings in The Goldman Sachs Group, Inc. $GS

Cyndeo Wealth Partners LLC cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,758 shares of the investment management company’s stock after selling 19 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in The Goldman Sachs Group were worth $2,660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GS. Kingstone Capital Partners Texas LLC raised its stake in 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 valued at $20,566,005,000 after buying an additional 29,053,586 shares during the period. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group in the first quarter valued at approximately $1,766,238,000. Nuveen LLC bought a new stake in The Goldman Sachs Group in the first quarter valued at approximately $897,185,000. Assenagon Asset Management S.A. raised its stake in The Goldman Sachs Group by 102.6% in the first quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company’s stock valued at $8,065,000 after buying an additional 585,084 shares during the period. Finally, Ninety One UK Ltd bought a new stake in The Goldman Sachs Group in the second quarter valued at approximately $408,780,000. Institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

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

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $765.14 on Friday. The stock’s fifty day moving average price is $760.79 and its two-hundred day moving average price is $662.32. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $231.62 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping 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 analyst estimates of $13.53 billion. During the same quarter last year, the company earned $8.62 EPS. The company’s revenue was up 14.5% on a year-over-year basis. As a group, research analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is 35.26%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GS. BMO Capital Markets began coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. JMP Securities reiterated a “market perform” rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Hsbc Global Res lowered The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Finally, Citizens Jmp reiterated a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Five research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $727.31.

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.