Sovran Advisors LLC Grows Holdings in The Goldman Sachs Group, Inc. $GS

Sovran Advisors LLC boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 679.2% in the first quarter, HoldingsChannel reports. The fund owned 2,891 shares of the investment management company’s stock after acquiring an additional 2,520 shares during the period. Sovran Advisors LLC’s holdings in The Goldman Sachs Group were worth $2,671,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. WealthShield Partners LLC grew its holdings in The Goldman Sachs Group by 4.9% in the first quarter. WealthShield Partners LLC now owns 961 shares of the investment management company’s stock worth $813,000 after purchasing an additional 45 shares during the period. Simplicity Wealth LLC lifted its holdings in shares of The Goldman Sachs Group by 5.8% during the first quarter. Simplicity Wealth LLC now owns 2,184 shares of the investment management company’s stock valued at $1,848,000 after purchasing an additional 119 shares during the last quarter. Candriam S.C.A. lifted its holdings in shares of The Goldman Sachs Group by 1.8% during the first quarter. Candriam S.C.A. now owns 1,449 shares of the investment management company’s stock valued at $1,226,000 after purchasing an additional 26 shares during the last quarter. AlpenGlobal Capital LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $1,572,000. Finally, KLCM Advisors Inc. grew its stake in shares of The Goldman Sachs Group by 32.3% in the 1st quarter. KLCM Advisors Inc. now owns 385 shares of the investment management company’s stock worth $326,000 after buying an additional 94 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the sale, the chief accounting officer owned 6,338 shares of the company’s stock, valued at $5,889,079.46. The trade was a 61.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the sale, the insider owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. This trade represents a 47.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,681 shares of company stock valued at $31,737,875 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group lifted their price objective on The Goldman Sachs Group from $940.00 to $1,120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. BMO Capital Markets lifted their price target on The Goldman Sachs Group from $972.00 to $1,070.00 and gave the stock a “market perform” rating in a research report on Monday, June 29th. Oppenheimer cut shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Dbs Bank increased their price objective on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. Finally, CICC Research raised their price objective on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Ten research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and an average price target of $986.91.

The Goldman Sachs Group Stock Performance

GS traded up $0.07 during midday trading on Friday, hitting $1,056.04. 1,110,031 shares of the company traded hands, compared to its average volume of 1,972,365. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The firm has a market capitalization of $311.54 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.30. The company’s 50-day moving average is $1,017.99 and its 200 day moving average is $938.64. The Goldman Sachs Group, Inc. has a 52 week low of $691.30 and a 52 week high of $1,125.00.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping analysts’ consensus estimates of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. During the same period in the previous year, the business posted $14.12 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were given a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Goldman Sachs Group’s payout ratio is 32.89%.

Trending Headlines about The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.