Wellington Shields Capital Management LLC Invests $2.15 Million in The Goldman Sachs Group, Inc. $GS

Wellington Shields Capital Management LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,040 shares of the investment management company’s stock, valued at approximately $2,151,000.

A number of other large investors also recently added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group in the 1st quarter valued at $25,000. Dogwood Wealth Management LLC grew its position in shares of The Goldman Sachs Group by 1,800.0% during the second 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 in the last quarter. Cornerstone Planning Group LLC increased its holdings 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 worth $38,000 after purchasing an additional 23 shares during the last quarter. Ridgewood Investments LLC lifted 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 worth $38,000 after buying an additional 17 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new position in The Goldman Sachs Group during the second quarter valued at approximately $39,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GS has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “neutral” rating and set a $843.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Barclays lifted their price target on The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, HSBC raised their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Three analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $779.50.

Insider Buying and Selling at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the completion of the sale, the chief operating officer owned 106,268 shares in the company, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

GS opened at $789.50 on Monday. The business has a fifty day moving average of $773.85 and a 200 day moving average of $692.85. The stock has a market cap of $239.00 billion, a P/E ratio of 16.04, a PEG ratio of 1.43 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. 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 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 business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the company earned $8.40 earnings per share. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 32.50%.

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.