Oppenheimer Asset Management Inc. Lowers Stock Holdings in The Goldman Sachs Group, Inc. $GS

Oppenheimer Asset Management Inc. trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 11.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,826 shares of the investment management company’s stock after selling 2,183 shares during the period. Oppenheimer Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $11,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in GS. Kingstone Capital Partners Texas LLC boosted its position in The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock valued at $20,566,005,000 after buying an additional 29,053,586 shares during the period. Nuveen LLC purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at about $897,185,000. Ninety One UK Ltd bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter valued at about $408,780,000. Cohen Investment Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 5,559.2% in the 1st quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company’s stock valued at $256,876,000 after purchasing an additional 461,911 shares in the last quarter. Finally, Amundi raised its holdings in shares of The Goldman Sachs Group by 13.6% in the 1st quarter. Amundi now owns 1,891,260 shares of the investment management company’s stock valued at $967,193,000 after purchasing an additional 225,993 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 4.4%

NYSE:GS opened at $784.09 on Monday. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The firm has a 50 day moving average of $767.57 and a 200 day moving average of $681.50. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $237.36 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.43 and a beta of 1.42.

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

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the company’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 transaction of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BNP Paribas Exane boosted their price target on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the company a “neutral” rating in a report on Friday, October 17th. UBS Group boosted their price target on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Morgan Stanley reduced their price target on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a report on Wednesday, October 15th. Finally, Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $779.50.

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.