The Goldman Sachs Group, Inc. (NYSE:GS) Position Trimmed by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,464 shares of the investment management company’s stock after selling 1,333 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in The Goldman Sachs Group were worth $12,875,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Personal Financial Services purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $25,000. POM Investment Strategies LLC acquired a new stake in The Goldman Sachs Group in the 2nd quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in The Goldman Sachs Group during the second quarter valued at approximately $27,000. Versant Capital Management Inc grew its holdings in The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 34 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its stake in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after buying an additional 31 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $485.39 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26. The firm has a fifty day simple moving average of $490.99 and a 200 day simple moving average of $452.97. The stock has a market capitalization of $156.52 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. Research analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.47%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s payout ratio is presently 46.86%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the firm’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 transaction, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on GS. JPMorgan Chase & Co. lifted their target price on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Barclays raised their price target on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Oppenheimer lifted their target price on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Evercore ISI lifted their price objective on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $496.44.

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.