Spinnaker Trust Raises Stake in The Goldman Sachs Group, Inc. $GS

Spinnaker Trust lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,191 shares of the investment management company’s stock after purchasing an additional 40 shares during the period. Spinnaker Trust’s holdings in The Goldman Sachs Group were worth $843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Savvy Advisors Inc. raised its position in The Goldman Sachs Group by 11.1% during the 2nd quarter. Savvy Advisors Inc. now owns 3,309 shares of the investment management company’s stock valued at $2,342,000 after purchasing an additional 330 shares in the last quarter. Fortune 45 LLC increased its stake in shares of The Goldman Sachs Group by 7.0% during the second quarter. Fortune 45 LLC now owns 1,077 shares of the investment management company’s stock valued at $762,000 after buying an additional 70 shares during the period. MeadowBrook Investment Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $39,000. Assetmark Inc. lifted its stake in The Goldman Sachs Group by 10.7% in the second quarter. Assetmark Inc. now owns 17,572 shares of the investment management company’s stock worth $12,437,000 after acquiring an additional 1,701 shares during the period. Finally, Keybank National Association OH grew its holdings in The Goldman Sachs Group by 6.6% during the 2nd quarter. Keybank National Association OH now owns 10,891 shares of the investment management company’s stock worth $7,708,000 after acquiring an additional 676 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $788.83 on Friday. The company has a market cap of $238.79 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.43 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 fifty day moving average price is $772.90 and its 200 day moving average price is $688.24. 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 announced its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The business had revenue of $11.33 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period in the prior year, the company earned $8.40 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date of this dividend 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 (DPR) is currently 32.50%.

Insider Buying and Selling

In other news, COO John E. Waldron sold 9,000 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at $79,755,196.68. This represents a 7.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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. 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. JMP Securities reissued a “market perform” rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. BMO Capital Markets initiated coverage on shares of The Goldman Sachs Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price objective on the stock. Finally, Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the company a “market perform” rating in a research note on Friday, October 17th. Three research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $779.50.

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.