Spire Wealth Management Has $3.65 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Spire Wealth Management lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 37.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,152 shares of the investment management company’s stock after selling 3,106 shares during the period. Spire Wealth Management’s holdings in The Goldman Sachs Group were worth $3,646,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Winthrop Advisory Group LLC raised its stake in shares of The Goldman Sachs Group by 3.4% during the second quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock valued at $303,000 after acquiring an additional 14 shares during the last quarter. Avion Wealth raised its stake in shares of The Goldman Sachs Group by 31.1% during the second quarter. Avion Wealth now owns 59 shares of the investment management company’s stock valued at $41,000 after acquiring an additional 14 shares during the last quarter. KPP Advisory Services LLC raised its stake in shares of The Goldman Sachs Group by 2.1% during the second quarter. KPP Advisory Services LLC now owns 668 shares of the investment management company’s stock valued at $473,000 after acquiring an additional 14 shares during the last quarter. Dumont & Blake Investment Advisors LLC raised its stake in shares of The Goldman Sachs Group by 0.7% during the second quarter. Dumont & Blake Investment Advisors LLC now owns 2,241 shares of the investment management company’s stock valued at $1,586,000 after acquiring an additional 15 shares during the last quarter. Finally, Mechanics Financial Corp raised its stake in shares of The Goldman Sachs Group by 5.8% during the second 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. Institutional investors own 71.21% of the company’s stock.

Insiders Place Their Bets

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

The Goldman Sachs Group Trading Up 0.7%

GS opened at $788.83 on Friday. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23. The company has a market cap of $238.79 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.43 and a beta of 1.42. The company has a fifty day moving average price of $772.90 and a two-hundred day moving average price of $688.24.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The firm had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $13.68 billion. During the same period in the previous year, the firm posted $8.40 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays raised their price target on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Morgan Stanley lowered their target price on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 15th. UBS Group lifted their target price on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Wells Fargo & Company lifted their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Finally, BNP Paribas Exane lifted their target price on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Three analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $779.50.

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.