Argonautica Private Wealth Management Inc. Trims Stock Position in The Goldman Sachs Group, Inc. $GS

Argonautica Private Wealth Management Inc. cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 15.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 948 shares of the investment management company’s stock after selling 170 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in The Goldman Sachs Group were worth $671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group during the 1st quarter worth approximately $25,000. Dogwood Wealth Management LLC increased its position in The Goldman Sachs Group by 1,800.0% during the 2nd 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 during the period. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC increased its position in 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 purchasing an additional 23 shares during the period. Finally, Ridgewood Investments LLC increased its position in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GS has been the topic of several recent analyst reports. Barclays boosted their target price on The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a research report on Friday, October 17th. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $750.00 price target (up previously from $625.00) on shares of The Goldman Sachs Group in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $779.50.

The Goldman Sachs Group Stock Performance

GS opened at $759.22 on Wednesday. The stock has a market cap of $229.83 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.41 and a beta of 1.42. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $766.45 and its 200 day simple moving average is $674.16. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The business had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.40 EPS. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be issued a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is 32.50%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares in the company, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the sale, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,707 shares of company stock worth $19,094,804. 0.55% of the stock is owned by insiders.

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.