Tranquility Partners LLC Trims Position in The Goldman Sachs Group, Inc. $GS

Tranquility Partners LLC lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 33.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,599 shares of the investment management company’s stock after selling 1,325 shares during the period. Tranquility Partners LLC’s holdings in The Goldman Sachs Group were worth $1,839,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd purchased a new position in The Goldman Sachs Group in the 1st quarter worth about $25,000. Dogwood Wealth Management LLC increased its stake in The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after buying an additional 36 shares during the period. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group in the 1st quarter worth about $29,000. Cornerstone Planning Group LLC increased its stake in The Goldman Sachs Group by 46.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock worth $38,000 after buying an additional 23 shares during the period. Finally, Ridgewood Investments LLC increased its stake in The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GS. Wall Street Zen upgraded shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. UBS Group increased 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 report on Tuesday, October 7th. Royal Bank Of Canada increased their target price on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. HSBC increased their target price on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Finally, Hsbc Global Res cut shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $727.31.

The Goldman Sachs Group Stock Down 1.9%

NYSE:GS opened at $765.14 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The stock has a market capitalization of $231.62 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.44 and a beta of 1.42. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50-day simple moving average is $760.79 and its 200-day simple moving average is $662.94.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the business earned $8.62 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a $4.00 dividend. 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 (DPR) is 35.26%.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares of the company’s stock, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 over the last 90 days. Company insiders own 0.55% of the company’s stock.

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.