Lmcg Investments LLC Trims Stock Position in The Goldman Sachs Group, Inc. $GS

Lmcg Investments LLC cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 46,535 shares of the investment management company’s stock after selling 1,255 shares during the period. The Goldman Sachs Group accounts for approximately 2.1% of Lmcg Investments LLC’s portfolio, making the stock its 8th biggest position. Lmcg Investments LLC’s holdings in The Goldman Sachs Group were worth $32,935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of The Goldman Sachs Group by 17.1% in the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock valued at $1,989,000 after purchasing an additional 508 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of The Goldman Sachs Group by 7.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after purchasing an additional 58 shares during the period. Farther Finance Advisors LLC raised its stake in shares of The Goldman Sachs Group by 29.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,856 shares of the investment management company’s stock valued at $1,018,000 after purchasing an additional 417 shares during the period. GAMMA Investing LLC raised its stake in shares of The Goldman Sachs Group by 17.1% in the 1st quarter. GAMMA Investing LLC now owns 7,279 shares of the investment management company’s stock valued at $3,977,000 after purchasing an additional 1,062 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of The Goldman Sachs Group by 102.6% in 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 purchasing an additional 585,084 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on GS. UBS Group lifted their price target on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a research note on Tuesday. HSBC lifted their price target on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Citigroup lifted their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Finally, Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and an average target price of $727.31.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $765.14 on Friday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The stock’s 50-day simple moving average is $760.79 and its 200 day simple moving average is $662.32. The company has a market cap of $231.62 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.47 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.62 earnings per share. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.26%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer owned 126,176 shares of the company’s stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 in the last three months. 0.55% of the stock is owned by corporate insiders.

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.