Janney Montgomery Scott LLC Has $82.55 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Janney Montgomery Scott LLC reduced its stake in The Goldman Sachs Group by 4.2%, owning 116,638 shares valued at approximately $82.55 million as of the latest filing.
• CEO David M. Solomon sold 6,608 shares of Goldman Sachs at an average price of $712.31, reducing his holdings by 4.98% to approximately $89.88 million.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00 per share, an increase from the previous $3.00, reflecting a 2% dividend yield and a payout ratio of 35.26%.

Janney Montgomery Scott LLC decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 116,638 shares of the investment management company's stock after selling 5,063 shares during the quarter. Janney Montgomery Scott LLC's holdings in The Goldman Sachs Group were worth $82,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at $25,000. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group during the first quarter valued at $29,000. Godsey & Gibb Inc. raised its position in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after buying an additional 34 shares during the period. Cornerstone Planning Group LLC raised its position in The Goldman Sachs Group by 46.9% during the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock valued at $38,000 after buying an additional 23 shares during the period. Finally, Ridgewood Investments LLC raised its position in The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analyst Weigh In

GS has been the topic of several recent analyst reports. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. 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 research report on Tuesday, July 8th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Evercore ISI set a $715.00 price target on The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Finally, Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Five equities research 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 stock presently has a consensus rating of "Hold" and an average target price of $674.93.

Insider Buying and Selling

In other news, CEO David M. Solomon sold 6,608 shares of the company's 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 completion of the sale, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the sale, the executive vice president owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $804.07 on Tuesday. The business's 50-day moving average price is $749.28 and its two-hundred day moving average price is $649.87. 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 Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The company has a market capitalization of $243.41 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results 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 the consensus estimate of $13.53 billion. During the same quarter in the previous year, the company posted $8.62 earnings per share. The business's quarterly revenue was up 14.5% compared to the same quarter last year. Analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The Goldman Sachs Group's dividend 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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