Northeast Investment Management Decreases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Northeast Investment Management lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 39,465 shares of the investment management company’s stock after selling 326 shares during the period. Northeast Investment Management’s holdings in The Goldman Sachs Group were worth $17,851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Apexium Financial LP raised its holdings in shares of The Goldman Sachs Group by 7.1% during the 4th quarter. Apexium Financial LP now owns 5,672 shares of the investment management company’s stock worth $2,188,000 after acquiring an additional 378 shares during the period. Empowered Funds LLC raised its holdings in shares of The Goldman Sachs Group by 62.7% during the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after acquiring an additional 2,428 shares during the period. Duality Advisers LP purchased a new position in shares of The Goldman Sachs Group during the 1st quarter worth $1,388,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of The Goldman Sachs Group by 34.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after acquiring an additional 2,103 shares during the period. Finally, Bell & Brown Wealth Advisors LLC purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth $5,416,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Down 0.8 %

Shares of The Goldman Sachs Group stock traded down $4.13 on Wednesday, reaching $503.13. 1,564,179 shares of the company were exchanged, compared to its average volume of 2,281,627. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26. The company has a market cap of $162.24 billion, a P/E ratio of 19.65, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 0.74. The stock’s 50 day moving average price is $482.53 and its 200-day moving average price is $442.26.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.26% and a net margin of 9.36%. The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 36.74 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.39%. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Insider Transactions at The Goldman Sachs Group

In related news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now owns 12,450 shares in the company, valued at $6,287,748. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the sale, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,013,500 shares of company stock valued at $32,181,365. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group lifted their price target on The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Evercore ISI boosted their price objective on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Morgan Stanley boosted their price objective on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $495.94.

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.