Canandaigua National Bank & Trust Co. Has $6.23 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Canandaigua National Bank & Trust Co. decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,805 shares of the investment management company’s stock after selling 111 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in The Goldman Sachs Group were worth $6,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GS. GAMMA Investing LLC grew its stake in shares of The Goldman Sachs Group by 63,864.7% in the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock worth $2,172,423,000 after acquiring an additional 3,970,467 shares during the last quarter. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group in the first quarter worth $1,766,238,000. Nuveen LLC bought a new position in The Goldman Sachs Group in the first quarter worth $897,185,000. Assenagon Asset Management S.A. lifted its position in The Goldman Sachs Group by 102.6% in the first quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company’s stock worth $8,065,000 after purchasing an additional 585,084 shares during the period. Finally, Cohen Investment Advisors LLC lifted its position in The Goldman Sachs Group by 5,559.2% in the first quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company’s stock worth $256,876,000 after purchasing an additional 461,911 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $780.87 on Monday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $793.17. The firm has a market cap of $236.38 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The business has a fifty day moving average of $728.85 and a 200-day moving average of $631.75.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $8.62 earnings per share. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $4.00 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is 35.26%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GS. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Morgan Stanley raised their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Zacks Research raised The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Finally, Keefe, Bruyette & Woods raised their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $660.00.

Insider Transactions at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, the chief financial officer owned 18,594 shares of the company’s stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 in the last three months. Company insiders own 0.55% of the company’s stock.

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.