Annex Advisory Services LLC Sells 1,885 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Annex Advisory Services LLC reduced its stake in The Goldman Sachs Group by 12.8% during the 2nd quarter, selling 1,885 shares and now holds 12,876 shares valued at approximately $9,113,000.
• The Goldman Sachs Group recently increased its quarterly dividend from $3.00 to $4.00 per share, representing an annualized dividend yield of 2.0%.
• Despite mixed analyst ratings, the consensus price target for Goldman Sachs stands at $665.00, with five analysts rating it as a Buy and eleven as Hold.

Annex Advisory Services LLC trimmed its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 12.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,876 shares of the investment management company's stock after selling 1,885 shares during the period. Annex Advisory Services LLC's holdings in The Goldman Sachs Group were worth $9,113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group during the 1st quarter valued at $25,000. American Capital Advisory LLC bought a new position in The Goldman Sachs Group in the first quarter valued at about $29,000. Godsey & Gibb Inc. lifted its holdings in The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after acquiring an additional 34 shares during the period. Mascagni Wealth Management Inc. purchased a new position in The Goldman Sachs Group in the fourth quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC grew its stake in shares of The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after purchasing an additional 49 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analyst Weigh In

GS has been the topic of several recent research reports. JMP Securities reiterated 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. Citigroup increased their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. Finally, HSBC reissued a "reduce" rating and set a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $665.00.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $804.45 on Friday. The firm has a market capitalization of $243.52 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.68 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day simple moving average of $738.03 and a 200-day simple moving average of $638.30. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $809.66.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.62 EPS. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is presently 35.26%.

Insider Activity

In other news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 in the last quarter. 0.55% of the stock is currently owned by company insiders.

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.

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