Benson Investment Management Company Inc. Has $6.97 Million Holdings in The Goldman Sachs Group, Inc. $GS

Benson Investment Management Company Inc. lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,845 shares of the investment management company’s stock after selling 224 shares during the quarter. The Goldman Sachs Group accounts for about 2.6% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its 9th biggest holding. Benson Investment Management Company Inc.’s holdings in The Goldman Sachs Group were worth $6,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the business’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. The trade was a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 over the last three months. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $765.14 on Friday. 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 company has a market capitalization of $231.62 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.47 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 business’s 50-day moving average is $760.79 and its 200 day moving average is $662.32.

The Goldman Sachs Group (NYSE:GS) last posted its 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 the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $8.62 earnings per share. On average, equities 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 announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a $4.00 dividend. 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 2.1%. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.26%.

Analysts Set New Price Targets

Several analysts have issued reports on GS shares. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. BMO Capital Markets began coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective 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. Wall Street Zen raised The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research note 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $727.31.

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.