Narwhal Capital Management Reduces Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Narwhal Capital Management decreased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,257 shares of the investment management company’s stock after selling 1,235 shares during the quarter. The Goldman Sachs Group makes up about 1.6% of Narwhal Capital Management’s holdings, making the stock its 14th largest position. Narwhal Capital Management’s holdings in The Goldman Sachs Group were worth $16,400,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. First Personal Financial Services purchased a new position in shares of The Goldman Sachs Group during the first quarter worth about $25,000. First United Bank & Trust purchased a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $26,000. POM Investment Strategies LLC purchased a new position in shares of The Goldman Sachs Group during the second quarter worth about $26,000. Versant Capital Management Inc grew its holdings in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in shares of The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 1.7 %

Shares of The Goldman Sachs Group stock opened at $479.64 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26. The company has a market capitalization of $154.67 billion, a P/E ratio of 18.73, a P/E/G ratio of 0.79 and a beta of 1.36. The business has a 50 day moving average price of $489.33 and a 200 day moving average price of $447.76.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 35.07 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $3.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Evercore ISI lifted their price objective on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Oppenheimer lifted their price objective on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $495.94.

Insider Buying and Selling

In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The disclosure for this sale can be found here. Insiders sold 4,013,500 shares of company stock worth $32,181,365 in the last ninety days. Insiders own 0.54% of the company’s stock.

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.