B. Riley Wealth Advisors Inc. Sells 2,758 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

B. Riley Wealth Advisors Inc. lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 13.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 18,425 shares of the investment management company’s stock after selling 2,758 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in The Goldman Sachs Group were worth $8,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Aveo Capital Partners LLC lifted its stake in The Goldman Sachs Group by 8.2% during the fourth quarter. Aveo Capital Partners LLC now owns 697 shares of the investment management company’s stock worth $269,000 after purchasing an additional 53 shares during the period. Alberta Investment Management Corp lifted its position in shares of The Goldman Sachs Group by 27.3% during the 4th quarter. Alberta Investment Management Corp now owns 9,800 shares of the investment management company’s stock worth $3,781,000 after buying an additional 2,100 shares during the period. Jones Financial Companies Lllp boosted its stake in The Goldman Sachs Group by 33.0% in the 4th quarter. Jones Financial Companies Lllp now owns 270 shares of the investment management company’s stock valued at $104,000 after buying an additional 67 shares in the last quarter. CWA Asset Management Group LLC grew its position in The Goldman Sachs Group by 2.3% in the fourth quarter. CWA Asset Management Group LLC now owns 19,925 shares of the investment management company’s stock valued at $7,687,000 after acquiring an additional 439 shares during the period. Finally, Wellspring Financial Advisors LLC raised its stake in The Goldman Sachs Group by 12.3% during the fourth quarter. Wellspring Financial Advisors LLC now owns 741 shares of the investment management company’s stock worth $286,000 after acquiring an additional 81 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $498.51 on Monday. 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 Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26. The stock has a market capitalization of $160.75 billion, a P/E ratio of 19.47, a P/E/G ratio of 0.78 and a beta of 1.36. The business has a 50-day moving average price of $492.25 and a two-hundred day moving average price of $458.99.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. Equities analysts predict that The Goldman Sachs Group, Inc. will post 35.43 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, August 30th. 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 Goldman Sachs Group’s dividend payout ratio is 46.86%.

Analyst Ratings Changes

GS has been the topic of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Evercore ISI boosted 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. UBS Group raised their price objective on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. BMO Capital Markets boosted their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $496.44.

Insider Transactions at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction dated 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 owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction 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 sale, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

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.