Claro Advisors LLC Cuts Stake in The Goldman Sachs Group, Inc. $GS

Claro Advisors LLC lowered its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 37.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 457 shares of the investment management company’s stock after selling 268 shares during the period. Claro Advisors LLC’s holdings in The Goldman Sachs Group were worth $323,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of The Goldman Sachs Group in the first quarter worth about $25,000. Dogwood Wealth Management LLC grew 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 acquiring an additional 36 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in The Goldman Sachs Group by 46.9% in 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. Ridgewood Investments LLC increased its stake in The Goldman Sachs Group by 45.9% in 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. Finally, MeadowBrook Investment Advisors LLC bought a new stake in The Goldman Sachs Group in the second quarter valued at approximately $39,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

GS stock opened at $787.24 on Friday. 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 Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The firm has a 50-day moving average of $777.23 and a 200 day moving average of $698.07. The company has a market cap of $236.12 billion, a P/E ratio of 15.99, a PEG ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The business had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the previous year, the firm posted $8.40 EPS. The business’s revenue was up 19.5% on a year-over-year basis. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed 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 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 32.50%.

Analyst Ratings Changes

Several research analysts have recently issued reports on GS shares. BNP Paribas Exane raised their target price on shares of The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. JPMorgan Chase & Co. reissued 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, October 21st. Citizens Jmp reaffirmed a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Evercore ISI increased their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Royal Bank Of Canada restated a “neutral” rating and set a $843.00 price target on shares of The Goldman Sachs Group in a report on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus target price of $779.50.

Insider Buying and Selling

In other news, COO John E. Waldron sold 9,244 shares of the business’s stock in a transaction 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 sale, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.55% of the company’s stock.

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.