Ingalls & Snyder LLC Cuts Position in The Goldman Sachs Group, Inc. $GS

Ingalls & Snyder LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,596 shares of the investment management company’s stock after selling 677 shares during the period. Ingalls & Snyder LLC’s holdings in The Goldman Sachs Group were worth $12,454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in shares of The Goldman Sachs Group by 28.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock worth $286,418,000 after buying an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $321,000. Blueshift Asset Management LLC lifted its stake in The Goldman Sachs Group by 161.8% in the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock valued at $576,000 after purchasing an additional 652 shares during the last quarter. Jump Financial LLC purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $9,596,000. Finally, Strategic Blueprint LLC lifted its stake in The Goldman Sachs Group by 15.2% in the first quarter. Strategic Blueprint LLC now owns 3,271 shares of the investment management company’s stock valued at $1,787,000 after purchasing an additional 432 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Up 4.4%

GS opened at $784.09 on Friday. The stock has a market cap of $237.36 billion, a PE ratio of 15.93, a P/E/G ratio of 1.43 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The business’s fifty day simple moving average is $767.57 and its 200 day simple moving average is $680.36.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating 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 14.79% and a net margin of 13.18%.The firm’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.40 earnings per share. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares in the company, valued at $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on GS. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Hsbc Global Res downgraded The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. JMP Securities restated a “market perform” rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a research report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $779.50.

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.