JGP Wealth Management LLC Trims Stake in The Goldman Sachs Group, Inc. $GS

JGP Wealth Management LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 11.2% in the 2nd quarter, Holdings Channel reports. The firm owned 350 shares of the investment management company’s stock after selling 44 shares during the period. JGP Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $248,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Winthrop Advisory Group LLC lifted its holdings in shares of The Goldman Sachs Group by 3.4% in the 2nd quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock valued at $303,000 after purchasing an additional 14 shares during the last quarter. Mechanics Financial Corp raised its stake in 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 acquiring an additional 16 shares during the last quarter. Ridgewood Investments LLC raised its stake in 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 acquiring an additional 17 shares during the last quarter. Bank of Stockton raised its stake in 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 acquiring an additional 17 shares during the last quarter. Finally, Western Financial Corp CA raised its stake in 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 acquiring an additional 17 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the sale, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 126,176 shares in the company, 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. In the last 90 days, insiders have sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $771.44 on Wednesday. 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 business’s 50 day moving average is $763.05 and its two-hundred day moving average is $666.12. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25. The stock has a market capitalization of $233.53 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.48 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The business had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.40 EPS. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be issued a $4.00 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is currently 35.26%.

Analysts Set New Price Targets

Several research firms have commented on GS. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $790.00 to $850.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Citigroup upped their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. HSBC upped their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Finally, UBS Group upped their price objective on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. 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 stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and an average target price of $746.69.

The Goldman Sachs Group Company 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.