RMR Wealth Builders Cuts Stake in The Goldman Sachs Group, Inc. $GS

RMR Wealth Builders cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,014 shares of the investment management company’s stock after selling 19 shares during the quarter. RMR Wealth Builders’ holdings in The Goldman Sachs Group were worth $2,841,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd purchased a new position in The Goldman Sachs Group in the first quarter valued at about $25,000. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group during the first quarter valued at about $29,000. Godsey & Gibb Inc. grew its stake in shares of The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after acquiring an additional 34 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at about $31,000. Finally, Lowe Wealth Advisors LLC grew its stake in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 49 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares of the company’s stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John E. Waldron sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 in the last three months. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GS. JMP Securities restated a “market perform” rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Wells Fargo & Company lifted their price target on 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. Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a “market perform” rating in a research note on Thursday, July 17th. Zacks Research upgraded The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 15th. Finally, Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the stock an “outperform” rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $660.00.

The Goldman Sachs Group Stock Performance

GS opened at $780.87 on Monday. The business’s 50 day moving average is $728.85 and its 200-day moving average is $631.75. The stock 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 current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $793.17.

The Goldman Sachs Group (NYSE:GS) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.62 earnings per share. On average, analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend 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 annualized dividend and a yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

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.