Tower Wealth Partners Inc. Has $619,000 Stock Position in The Goldman Sachs Group, Inc. $GS

Tower Wealth Partners Inc. lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 874 shares of the investment management company’s stock after selling 124 shares during the quarter. Tower Wealth Partners Inc.’s holdings in The Goldman Sachs Group were worth $619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GS. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $25,000. Dogwood Wealth Management LLC increased its position in shares of The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 36 shares during the last quarter. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $29,000. Cornerstone Planning Group LLC increased its position in shares of The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 23 shares during the last quarter. Finally, Ridgewood Investments LLC increased its position in shares of The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the 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 $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. Royal Bank Of Canada reissued a “neutral” rating and set a $843.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday. Wells Fargo & Company boosted their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. JMP Securities restated a “market perform” rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Hsbc Global Res cut The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Four equities 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $765.07.

The Goldman Sachs Group Trading Down 0.3%

Shares of GS stock opened at $768.20 on Thursday. The stock has a 50 day simple moving average of $763.93 and a 200 day simple moving average of $666.82. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The stock has a market cap of $232.55 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The firm had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the prior year, the company earned $8.40 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.1%. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

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.