Bingham Private Wealth LLC Lowers Holdings in The Goldman Sachs Group, Inc. $GS

Bingham Private Wealth LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 5.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 633 shares of the investment management company’s stock after selling 36 shares during the period. Bingham Private Wealth LLC’s holdings in The Goldman Sachs Group were worth $448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GS. Canada Pension Plan Investment Board increased its holdings in The Goldman Sachs Group by 28.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after acquiring an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC purchased a new position in shares of The Goldman Sachs Group during the first quarter valued at about $321,000. Blueshift Asset Management LLC increased its holdings in shares of The Goldman Sachs Group by 161.8% in the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock worth $576,000 after purchasing an additional 652 shares during the last quarter. Adams Diversified Equity Fund Inc. increased its holdings in shares of The Goldman Sachs Group by 41.5% in the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock worth $27,205,000 after purchasing an additional 14,600 shares during the last quarter. Finally, Terra Nova Asset Management LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter worth about $1,643,000. Institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the sale, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction on 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GS. Royal Bank Of Canada raised their price target on The Goldman Sachs Group from $750.00 to $843.00 and gave the company a “sector perform” rating in a report on Wednesday, October 1st. HSBC raised their target price on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. JMP Securities reaffirmed a “market perform” rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Saturday, September 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and an average target price of $717.00.

The Goldman Sachs Group Stock Performance

GS stock opened at $796.13 on Tuesday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The firm has a market cap of $241.00 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.64 and a beta of 1.42. The business’s fifty day simple moving average is $756.50 and its two-hundred day simple moving average is $657.99. 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 issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion during 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 business’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $8.62 earnings per share. 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 business also recently announced 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 represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is 35.26%.

About The Goldman Sachs Group

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.