Segment Wealth Management LLC Sells 486 Shares of The Goldman Sachs Group, Inc. $GS

Segment Wealth Management LLC lowered its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,003 shares of the investment management company’s stock after selling 486 shares during the quarter. Segment Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $14,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kingstone Capital Partners Texas LLC raised its holdings in The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after acquiring an additional 29,053,586 shares during the period. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth $1,766,238,000. Nuveen LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth $897,185,000. Assenagon Asset Management S.A. raised its holdings in The Goldman Sachs Group by 102.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company’s stock worth $8,065,000 after acquiring an additional 585,084 shares during the period. Finally, Ninety One UK Ltd bought a new position in The Goldman Sachs Group in the 2nd quarter worth $408,780,000. Institutional investors own 71.21% of the company’s stock.

Insider Activity

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at $86,463,679.48. The trade was a 7.42% 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 ninety days. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GS. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Citizens Jmp reaffirmed a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Royal Bank Of Canada upped their price objective on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a “sector perform” rating in a research report on Wednesday. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $713.88.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $790.32 on Friday. The stock has a market cap of $239.25 billion, a P/E ratio of 17.42, a PEG ratio of 1.62 and a beta of 1.42. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The company’s 50-day simple moving average is $755.05 and its 200 day simple moving average is $655.05.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $8.62 earnings per share. As a group, research analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.26%.

The Goldman Sachs Group 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.