SteelPeak Wealth LLC Decreases Stake in The Goldman Sachs Group, Inc. $GS

SteelPeak Wealth LLC reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.9% during the second quarter, HoldingsChannel reports. The firm owned 14,642 shares of the investment management company’s stock after selling 131 shares during the period. SteelPeak Wealth LLC’s holdings in The Goldman Sachs Group were worth $10,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its stake in shares of The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after acquiring an additional 29,053,586 shares during the period. International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group in the first quarter worth approximately $1,766,238,000. Nuveen LLC bought a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $897,185,000. Assenagon Asset Management S.A. raised its stake in The Goldman Sachs Group by 102.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company’s stock valued at $8,065,000 after buying an additional 585,084 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in The Goldman Sachs Group during the 2nd quarter valued at $408,780,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Up 0.8%

GS stock opened at $796.13 on Tuesday. The business’s 50-day moving average price is $756.50 and its 200-day moving average price is $657.99. The stock has a market cap of $241.00 billion, a P/E ratio of 17.54, a PEG ratio of 1.64 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the firm posted $8.62 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s payout ratio is 35.26%.

Insider Activity

In related news, CFO Denis P. Coleman sold 7,463 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction on Wednesday, July 23rd. The stock was 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 owned 65,761 shares of the company’s stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock worth $28,111,828 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GS shares. Wells Fargo & Company raised their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft raised their target price 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. HSBC boosted their price target on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. JMP Securities reiterated a “market perform” rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus price target of $717.00.

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.