Gries Financial LLC Has $401,000 Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Gries Financial LLC reduced its stake in The Goldman Sachs Group by 46.4% in Q2, holding 566 shares valued at $401,000 after selling 489 shares.
• CEO David M. Solomon and COO John E. Waldron sold over 15,000 shares collectively, representing significant decreases in their ownership percentages.
• The Goldman Sachs Group's recent quarterly earnings beat expectations with a revenue of $14.58 billion and a net margin of 12.37%, alongside an announced increase in dividend to $4.00 per share.

Gries Financial LLC decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 46.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 566 shares of the investment management company's stock after selling 489 shares during the quarter. Gries Financial LLC's holdings in The Goldman Sachs Group were worth $401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Canada Pension Plan Investment Board increased its position in shares of The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock worth $286,418,000 after acquiring an additional 116,535 shares in the last quarter. Clear Creek Financial Management LLC acquired a new position in The Goldman Sachs Group in the 1st quarter worth approximately $321,000. Blueshift Asset Management LLC grew 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 worth $576,000 after purchasing an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. raised its stake in The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after purchasing an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter valued at $1,643,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Buying and Selling

In other news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John E. Waldron sold 9,244 shares of the business's 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 of the company's stock, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GS has been the topic of a number of research analyst reports. JMP Securities reiterated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, 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. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $665.00.

The Goldman Sachs Group Trading Up 0.1%

Shares of NYSE GS opened at $806.62 on Wednesday. The business has a 50 day simple moving average of $741.95 and a 200 day simple moving average of $641.68. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The stock has a market cap of $244.18 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.68 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67.

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

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.0%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 35.26%.

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.

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