The Goldman Sachs Group, Inc. $GS Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 25.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,504 shares of the investment management company’s stock after selling 850 shares during the period. Malaga Cove Capital LLC’s holdings in The Goldman Sachs Group were worth $1,772,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its stake in shares of The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after purchasing an additional 116,535 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of The Goldman Sachs Group by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock valued at $2,392,124,000 after purchasing an additional 157,473 shares in the last quarter. Blueshift Asset Management LLC increased its stake in The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock worth $576,000 after buying an additional 652 shares during the period. Jump Financial LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $9,596,000. Finally, Wells Trecaso Financial Group LLC boosted its position in The Goldman Sachs Group by 0.5% in the 2nd quarter. Wells Trecaso Financial Group LLC now owns 21,534 shares of the investment management company’s stock valued at $15,240,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GS shares. JMP Securities reaffirmed a “market perform” rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. HSBC boosted their target price on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $750.00 price objective (up from $625.00) on shares of The Goldman Sachs Group in a research report on Tuesday, October 21st. Zacks Research cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a research note on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, The Goldman Sachs Group has an average rating of “Hold” and a consensus price target of $779.50.

Insider Buying and Selling at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $787.24 on Friday. 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 Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The firm’s 50 day moving average is $777.23 and its two-hundred day moving average is $698.07. The firm has a market capitalization of $236.12 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.27 by $1.98. The business had revenue of $15.18 billion during the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.40 EPS. Research analysts forecast 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. Stockholders of record on Tuesday, December 2nd will be given 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 dividend yield of 2.0%. The Goldman Sachs Group’s payout ratio is 32.50%.

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.