Commerce Bank Has $21.54 Million Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Commerce Bank lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 39,432 shares of the investment management company’s stock after selling 436 shares during the quarter. Commerce Bank’s holdings in The Goldman Sachs Group were worth $21,541,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Deutsche Bank AG lifted its stake in shares of The Goldman Sachs Group by 15.4% during the 4th quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company’s stock worth $594,412,000 after buying an additional 138,198 shares during the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $321,000. Adams Diversified Equity Fund Inc. lifted its stake in shares of The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock worth $27,205,000 after buying an additional 14,600 shares during the last quarter. Terra Nova Asset Management LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $1,643,000. Finally, Strategic Blueprint LLC lifted its stake in shares of The Goldman Sachs Group by 15.2% during the 1st quarter. Strategic Blueprint LLC now owns 3,271 shares of the investment management company’s stock worth $1,787,000 after buying an additional 432 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GS. Wells Fargo & Company lifted their price objective on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. JMP Securities reiterated a “market perform” rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Barclays dropped their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Daiwa America cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Morgan Stanley lifted their price objective on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus price target of $660.00.

The Goldman Sachs Group Price Performance

GS stock opened at $709.40 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $737.88. The firm has a market cap of $217.67 billion, a P/E ratio of 15.63, a P/E/G ratio of 1.54 and a beta of 1.38. The company’s 50-day moving average price is $669.82 and its two-hundred day moving average price is $610.85.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the firm earned $8.62 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.3%. The Goldman Sachs Group’s payout ratio is presently 26.44%.

Insider Activity at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,079 shares of company stock valued at $14,423,221. 0.55% of the stock is owned by insiders.

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.