The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Davis Asset Management L.P.

Davis Asset Management L.P. trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 41.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,000 shares of the investment management company’s stock after selling 50,000 shares during the period. The Goldman Sachs Group accounts for approximately 1.4% of Davis Asset Management L.P.’s holdings, making the stock its 25th largest holding. Davis Asset Management L.P.’s holdings in The Goldman Sachs Group were worth $31,662,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its stake in shares of The Goldman Sachs Group by 62.7% in the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after purchasing an additional 2,428 shares in the last quarter. Duality Advisers LP acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $1,388,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of The Goldman Sachs Group by 34.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after purchasing an additional 2,103 shares in the last quarter. Bell & Brown Wealth Advisors LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at about $5,416,000. Finally, Axxcess Wealth Management LLC lifted its stake in shares of The Goldman Sachs Group by 25.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock valued at $5,018,000 after purchasing an additional 2,442 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Citigroup raised their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” 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 report on Tuesday, July 2nd. Morgan Stanley raised their target price 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. Finally, Evercore ISI raised their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $496.44.

The Goldman Sachs Group Price Performance

GS stock opened at $498.43 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $517.26. The stock’s 50 day moving average is $491.96 and its two-hundred day moving average is $454.73. The company has a market capitalization 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 (NYSE:GS) last issued its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. Analysts predict that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s payout ratio is 46.86%.

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.