Profund Advisors LLC Has $3.99 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Profund Advisors LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.7% during the second quarter, HoldingsChannel reports. The fund owned 8,810 shares of the investment management company’s stock after selling 338 shares during the quarter. Profund Advisors LLC’s holdings in The Goldman Sachs Group were worth $3,985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GS. POM Investment Strategies LLC purchased a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $26,000. Headlands Technologies LLC acquired a new position in The Goldman Sachs Group in the second quarter worth approximately $27,000. First Personal Financial Services bought a new position in The Goldman Sachs Group during the first quarter valued at approximately $25,000. SJS Investment Consulting Inc. lifted its stake in The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Finally, Quest Partners LLC grew its position in The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after acquiring an additional 63 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

GS opened at $498.43 on Friday. The stock’s 50 day simple moving average is $491.96 and its 200-day simple moving average is $454.73. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock has a market cap of $160.73 billion, a PE ratio of 19.46, a P/E/G ratio of 0.73 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $517.26.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.52 by $0.10. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $3.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.41%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the sale, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the subject of several analyst reports. Oppenheimer upped their price objective on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Morgan Stanley increased their price objective on The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Citigroup upped their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Evercore ISI lifted their price target on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $496.44.

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.