Hennessy Advisors Inc. Has $1.49 Million Position in The Goldman Sachs Group, Inc. $GS

Hennessy Advisors Inc. lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.7% during the second quarter, Holdings Channel.com reports. The firm owned 2,100 shares of the investment management company’s stock after selling 200 shares during the period. Hennessy Advisors Inc.’s holdings in The Goldman Sachs Group were worth $1,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dogwood Wealth Management LLC boosted its stake in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of The Goldman Sachs Group during the first quarter valued at $25,000. American Capital Advisory LLC acquired a new position in shares of The Goldman Sachs Group during the first quarter valued at $29,000. Godsey & Gibb Inc. lifted 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 during the period. Finally, Ridgewood Investments LLC lifted its stake in shares of The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 17 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 1.4%

NYSE:GS opened at $790.32 on Friday. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25. The business’s 50-day moving average price is $755.05 and its two-hundred day moving average price is $655.73. 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 firm has a market capitalization of $239.25 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 1.64 and a beta of 1.42.

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, topping analysts’ consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion for 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 Goldman Sachs Group’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $8.62 earnings per share. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group’s payout ratio is 35.26%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Hsbc Global Res lowered The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a research note on Thursday, July 17th. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Morgan Stanley increased their target price on The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $717.00.

Insiders Place Their Bets

In other news, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction dated 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. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the firm’s 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 sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by company 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.