Harbour Investments Inc. Has $2.46 Million Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Harbour Investments Inc. reduced its stake in The Goldman Sachs Group by 13.6%, selling 708 shares and holding 4,506 shares worth $2,461,000.
• CEO David M. Solomon and CFO Denis P. Coleman sold a combined total of 14,071 shares of company stock recently, decreasing their ownership stakes.
• The Goldman Sachs Group announced a quarterly dividend increase to $4.00 per share, up from the previous $3.00, resulting in an annualized dividend of $16.00.

Harbour Investments Inc. decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,506 shares of the investment management company's stock after selling 708 shares during the period. Harbour Investments Inc.'s holdings in The Goldman Sachs Group were worth $2,461,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. HHM Wealth Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 53.3% in the 1st quarter. HHM Wealth Advisors LLC now owns 325 shares of the investment management company's stock worth $178,000 after buying an additional 113 shares in the last quarter. King Wealth Management Group grew its position in The Goldman Sachs Group by 1.8% in the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock valued at $593,000 after acquiring an additional 19 shares during the period. MGO One Seven LLC raised its stake in The Goldman Sachs Group by 26.3% during the first quarter. MGO One Seven LLC now owns 9,619 shares of the investment management company's stock worth $5,255,000 after acquiring an additional 2,001 shares in the last quarter. Lyell Wealth Management LP lifted its holdings in shares of The Goldman Sachs Group by 27.0% during the first quarter. Lyell Wealth Management LP now owns 687 shares of the investment management company's stock valued at $375,000 after acquiring an additional 146 shares during the period. Finally, RVW Wealth LLC lifted its holdings in shares of The Goldman Sachs Group by 5.6% during the first quarter. RVW Wealth LLC now owns 1,246 shares of the investment management company's stock valued at $681,000 after acquiring an additional 66 shares during the period. Institutional investors own 71.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. HSBC reissued a "reduce" rating and set a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. JMP Securities reaffirmed a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Barclays decreased their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Evercore ISI set a $715.00 price target on The Goldman Sachs Group and gave the company an "outperform" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Down 2.0%

GS traded down $14.19 during trading on Friday, reaching $709.40. The company had a trading volume of 2,997,787 shares, compared to its average volume of 2,165,566. The company has a market cap of $217.67 billion, a P/E ratio of 15.63, a PEG ratio of 1.51 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $737.88. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68. The business's fifty day moving average price is $669.82 and its 200 day moving average price is $610.88.

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, topping analysts' consensus estimates of $9.82 by $1.09. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the business posted $8.62 earnings per share. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $4.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.3%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is 26.44%.

Insider Activity at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer directly owned 126,176 shares of the company's stock, valued at $89,876,426.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the business's 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 completion of the sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,079 shares of company stock valued at $14,423,221. 0.55% of the stock is owned by insiders.

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.