The Goldman Sachs Group, Inc. $GS Shares Sold by Three Bridge Wealth Advisors LLC

Three Bridge Wealth Advisors LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 39.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 392 shares of the investment management company’s stock after selling 252 shares during the quarter. Three Bridge Wealth Advisors LLC’s holdings in The Goldman Sachs Group were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of The Goldman Sachs Group in the first quarter worth approximately $25,000. Dogwood Wealth Management LLC lifted its stake in shares of The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. American Capital Advisory LLC purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at $29,000. Godsey & Gibb Inc. increased its holdings in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after purchasing an additional 34 shares during the period. Finally, Cornerstone Planning Group LLC boosted its position in shares of The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock worth $38,000 after acquiring an additional 23 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GS has been the subject of several research analyst reports. HSBC raised their price target on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday. BMO Capital Markets started coverage on shares of The Goldman Sachs Group in a report on Friday. They set a “market perform” rating and a $785.00 price objective for the company. Evercore ISI raised their price objective on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a report on Thursday, July 17th. Finally, Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Five research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and an average target price of $717.00.

Insiders Place Their Bets

In related news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president directly owned 65,761 shares of the company’s stock, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John E. Waldron sold 9,244 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the sale, the chief operating officer directly owned 115,268 shares of the company’s stock, 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 worth $28,111,828 over the last three months. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $790.32 on Friday. The firm’s 50 day moving average is $755.05 and its 200-day moving average is $655.73. The company has a market capitalization of $239.25 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-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 Goldman Sachs Group (NYSE:GS) last announced 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 return on equity of 14.32% and a net margin of 12.37%.The business had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the business posted $8.62 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. Equities research 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 company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio 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.