Spectrum Wealth Counsel LLC Has $8.29 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Spectrum Wealth Counsel LLC reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,333 shares of the investment management company’s stock after selling 561 shares during the quarter. The Goldman Sachs Group accounts for 1.0% of Spectrum Wealth Counsel LLC’s investment portfolio, making the stock its 27th biggest holding. Spectrum Wealth Counsel LLC’s holdings in The Goldman Sachs Group were worth $8,292,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GS. Element Capital Management LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $10,687,000. Seven Mile Advisory grew its position in The Goldman Sachs Group by 4.1% during the second quarter. Seven Mile Advisory now owns 666 shares of the investment management company’s stock valued at $301,000 after purchasing an additional 26 shares in the last quarter. Schulhoff & Co. Inc. grew its position in The Goldman Sachs Group by 2.4% during the second quarter. Schulhoff & Co. Inc. now owns 2,278 shares of the investment management company’s stock valued at $1,030,000 after purchasing an additional 54 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in The Goldman Sachs Group by 14.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 429,728 shares of the investment management company’s stock valued at $194,375,000 after buying an additional 55,005 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in The Goldman Sachs Group by 11.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,311 shares of the investment management company’s stock worth $4,664,000 after buying an additional 1,046 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GS. UBS Group upped their price target on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Morgan Stanley boosted their price target on The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $496.44.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the 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 sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 approximately $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred 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 sale, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Up 1.0 %

The Goldman Sachs Group stock opened at $478.99 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 fifty-two week low of $289.36 and a fifty-two week high of $517.26. The firm has a fifty day moving average price of $490.33 and a two-hundred day moving average price of $451.20. The firm has a market cap of $154.46 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, topping the consensus estimate of $8.52 by $0.10. The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.51%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

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.