Corrado Advisors LLC Trims Stock Holdings in The Goldman Sachs Group, Inc. $GS

Corrado Advisors LLC lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,738 shares of the investment management company’s stock after selling 49 shares during the period. Corrado Advisors LLC’s holdings in The Goldman Sachs Group were worth $1,938,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GS. Kingstone Capital Partners Texas LLC increased its holdings in shares of The Goldman Sachs Group by 617,504.5% in the second 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 purchasing an additional 29,053,586 shares during the period. Nuveen LLC acquired a new position in shares of The Goldman Sachs Group in the first quarter valued at approximately $897,185,000. Ninety One UK Ltd acquired a new position in shares of The Goldman Sachs Group in the second quarter valued at approximately $408,780,000. Amundi increased its holdings in shares of The Goldman Sachs Group by 13.6% in the first 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 during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of The Goldman Sachs Group by 15.6% in the first quarter. Ameriprise Financial Inc. now owns 1,604,472 shares of the investment management company’s stock valued at $874,318,000 after purchasing an additional 216,556 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Up 0.3%

The Goldman Sachs Group stock opened at $792.69 on Wednesday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The firm has a market capitalization of $239.96 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The stock’s fifty day moving average is $770.18 and its two-hundred day moving average is $685.52.

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

The Goldman Sachs Group Announces Dividend

The company 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 $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.0%. 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 company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GS shares. Hsbc Global Res lowered The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Daiwa Capital Markets upped their price objective on The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Morgan Stanley dropped their price objective on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 15th. UBS Group upped their price objective on The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Three investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $779.50.

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.