The Goldman Sachs Group, Inc. $GS Stock Position Reduced by Blume Capital Management Inc.

Blume Capital Management Inc. decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,871 shares of the investment management company’s stock after selling 1,526 shares during the quarter. The Goldman Sachs Group accounts for approximately 1.5% of Blume Capital Management Inc.’s holdings, making the stock its 27th largest position. Blume Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $7,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GS. Canada Pension Plan Investment Board increased its stake in The Goldman Sachs Group by 28.6% during the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after purchasing an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at about $321,000. Blueshift Asset Management LLC grew its position in shares of The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock valued at $576,000 after buying an additional 652 shares during the last quarter. Adams Diversified Equity Fund Inc. raised its stake in The Goldman Sachs Group by 41.5% during the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock worth $27,205,000 after acquiring an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC bought a new position in The Goldman Sachs Group in the first quarter worth about $1,643,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Down 0.5%

GS opened at $759.22 on Wednesday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The company has a market capitalization of $229.83 billion, a PE ratio of 15.42, a P/E/G ratio of 1.41 and a beta of 1.42. The stock’s fifty day moving average is $766.45 and its 200-day moving average is $674.16. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period in the previous year, the company earned $8.40 earnings per share. The Goldman Sachs Group’s revenue was up 19.5% compared to the same quarter last year. On average, equities 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is currently 32.50%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 8th. JMP Securities reaffirmed a “market perform” rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Barclays raised their target price on 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. HSBC increased their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research report on Tuesday, September 30th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus target price of $779.50.

Insider Buying and Selling

In related news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction 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 transaction, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John E. Waldron sold 9,000 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares in the company, valued at $79,755,196.68. This trade represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,707 shares of company stock valued at $19,094,804 over the last 90 days. 0.55% of the stock is currently owned by insiders.

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.