Bogart Wealth LLC Trims Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Bogart Wealth LLC reduced its stake in The Goldman Sachs Group by 17.3%, owning 11,148 shares valued at approximately $7.89 million post-sale.
• Multiple institutional investors have been active with The Goldman Sachs Group, including Canada Pension Plan Investment Board, which raised its stake by 28.6%.
• The Goldman Sachs Group recently beat earnings expectations for the quarter, reporting $12.25 EPS against a consensus of $10.27.

Bogart Wealth LLC lessened its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 17.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,148 shares of the investment management company's stock after selling 2,330 shares during the period. Bogart Wealth LLC's holdings in The Goldman Sachs Group were worth $7,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its stake in shares of The Goldman Sachs Group by 28.6% during 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 acquiring an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC purchased a new position in The Goldman Sachs Group during the 1st quarter valued at about $321,000. Blueshift Asset Management LLC raised its position 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 valued at $576,000 after purchasing an additional 652 shares during the last quarter. Adams Diversified Equity Fund Inc. lifted its holdings in The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock worth $27,205,000 after buying an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $1,643,000. 71.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. HSBC raised their target price on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. JMP Securities reiterated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Daiwa Capital Markets raised their price objective on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a "neutral" rating in a report on Wednesday, October 8th. Finally, Morgan Stanley cut their price objective on The Goldman Sachs Group from $854.00 to $828.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $771.00.

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 shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO John E. Waldron sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares of the company's stock, valued at $79,755,196.68. This trade represents a 7.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $750.71 on Monday. 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 stock has a market cap of $227.25 billion, a P/E ratio of 15.25, a P/E/G ratio of 1.39 and a beta of 1.42. The business's 50 day moving average price is $765.25 and its 200-day moving average price is $671.52. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 $11.33 billion during the quarter, compared to analysts' expectations of $13.68 billion. During the same quarter in the previous year, the business earned $8.40 earnings per share. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group's dividend 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.

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