Heritage Trust Co Has $2.85 Million Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Heritage Trust Co reduced its stake in The Goldman Sachs Group by 6.9%, selling 389 shares and bringing its total holdings to 5,209 shares worth approximately $2.84 million.
• Chief Financial Officer Denis P. Coleman and CEO David M. Solomon both sold a significant number of shares recently, with Coleman selling 7,463 shares and Solomon selling 6,608 shares, indicating a 28.64% and 4.98% decrease in their positions, respectively.
• The Goldman Sachs Group has announced a quarterly dividend increase to $4.00 per share, reflecting a 2.3% yield and an annualized dividend of $16.00.

Heritage Trust Co reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 6.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,209 shares of the investment management company's stock after selling 389 shares during the quarter. Heritage Trust Co's holdings in The Goldman Sachs Group were worth $2,846,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group in the 1st quarter valued at about $29,000. Godsey & Gibb Inc. boosted 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 worth $30,000 after purchasing an additional 34 shares during the period. Transce3nd LLC acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth $31,000. Mascagni Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $31,000. Finally, Lowe Wealth Advisors LLC boosted its position in shares of The Goldman Sachs Group by 326.7% in the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GS. JMP Securities reissued a "market perform" rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. 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. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $660.00.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction 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 sale, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock valued at $14,423,221 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded down $10.11 on Tuesday, hitting $715.92. The company had a trading volume of 684,324 shares, compared to its average volume of 2,606,398. 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 company has a market cap of $219.67 billion, a PE ratio of 15.77, a PEG ratio of 1.51 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $737.88. The business has a 50-day simple moving average of $672.36 and a 200-day simple moving average of $611.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.62 earnings per share. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is 26.44%.

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.