Hobbs Group Advisors LLC Decreases Stock Holdings in The Goldman Sachs Group, Inc. $GS

Hobbs Group Advisors LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,070 shares of the investment management company’s stock after selling 301 shares during the quarter. Hobbs Group Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,465,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd purchased a new position in The Goldman Sachs Group during the 1st quarter valued at $25,000. Dogwood Wealth Management LLC increased its position in The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 36 shares during the period. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group during the 1st quarter valued at $29,000. Cornerstone Planning Group LLC increased its position in The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 23 shares during the period. Finally, Ridgewood Investments LLC increased its position in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $765.14 on Friday. The stock has a market cap of $231.62 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.44 and a beta of 1.42. The firm’s 50-day moving average is $760.79 and its 200 day moving average is $662.94. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The Goldman Sachs Group’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.62 EPS. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. 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 dividend payout ratio (DPR) is presently 35.26%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. UBS Group boosted their target price on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. HSBC boosted their target price on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Citigroup boosted their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $727.31.

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.