Malaga Cove Capital LLC Lowers Stake in The Goldman Sachs Group, Inc. $GS

Malaga Cove Capital LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 25.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,504 shares of the investment management company’s stock after selling 850 shares during the period. Malaga Cove Capital LLC’s holdings in The Goldman Sachs Group were worth $1,772,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth approximately $25,000. Dogwood Wealth Management LLC increased its holdings 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 acquiring an additional 36 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings 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 acquiring an additional 23 shares in the last quarter. Ridgewood Investments LLC raised its position in The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after acquiring an additional 17 shares during the period. Finally, MeadowBrook Investment Advisors LLC purchased a new position in The Goldman Sachs Group during the second quarter valued at $39,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction that occurred on 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 owned 106,268 shares in the company, valued at $79,755,196.68. This trade represents a 7.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Royal Bank Of Canada reiterated a “neutral” rating and set a $843.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, October 14th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $750.00 target price (up previously from $625.00) on shares of The Goldman Sachs Group in a research report on Tuesday, October 21st. Daiwa Capital Markets boosted their price target on The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Finally, BMO Capital Markets started coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and an average price target of $779.50.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $787.24 on Friday. 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 stock’s fifty day moving average is $777.23 and its two-hundred day moving average is $698.07. The firm has a market capitalization of $236.12 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping the consensus estimate of $10.27 by $1.98. The business had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.40 EPS. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. 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 payout ratio is presently 32.50%.

The Goldman Sachs Group Company 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.