Geneos Wealth Management Inc. Has $5.23 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Geneos Wealth Management Inc. reduced its stake in The Goldman Sachs Group by 14.9%, holding 9,581 shares valued at approximately $5.23 million after selling 1,680 shares in the first quarter.
• Several institutional investors showed significant changes in their positions, including GAMMA Investing LLC, which increased its stake by 63,864.7% to nearly 4 million shares worth over $2 billion.
• The Goldman Sachs Group announced a quarterly dividend increase from $3.00 to $4.00 per share, representing an annualized dividend yield of 2.1%.

Geneos Wealth Management Inc. decreased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,581 shares of the investment management company's stock after selling 1,680 shares during the quarter. Geneos Wealth Management Inc.'s holdings in The Goldman Sachs Group were worth $5,234,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of The Goldman Sachs Group by 63,864.7% during the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after purchasing an additional 3,970,467 shares during the last quarter. Northern Trust Corp increased its holdings in shares of The Goldman Sachs Group by 1.2% during the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock worth $1,820,677,000 after acquiring an additional 40,125 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth approximately $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of The Goldman Sachs Group by 6.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock worth $1,138,527,000 after acquiring an additional 120,272 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of The Goldman Sachs Group by 15.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,963,836 shares of the investment management company's stock worth $1,124,532,000 after acquiring an additional 256,204 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on GS shares. Morgan Stanley boosted their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a 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. Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of "Hold" and an average price target of $660.00.

Insider Buying and Selling

In other news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO John E. Waldron sold 9,000 shares of the stock in a transaction on 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 sale, the chief operating officer directly owned 106,268 shares in the company, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 NYSE GS opened at $769.95 on Thursday. 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 stock's fifty day moving average price is $726.53 and its two-hundred day moving average price is $629.25. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $774.47. The firm has a market cap of $233.08 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.60 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the firm posted $8.62 EPS. The company's revenue for the quarter was up 14.5% on a year-over-year basis. On average, 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 business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The Goldman Sachs Group's payout ratio is currently 35.26%.

About The Goldman Sachs Group

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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