KG&L Capital Management LLC Sells 4,727 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• KG&L Capital Management LLC has reduced its stake in The Goldman Sachs Group by 47.3%, selling 4,727 shares, leaving it with 5,260 shares valued at approximately $3.67 million.
• CEO David M. Solomon and EVP John F.W. Rogers each sold over 6,000 shares of company stock recently, marking a significant decrease in their ownership.
• The Goldman Sachs Group has reported a $10.91 EPS for the recent quarter, surpassing the consensus estimate, with upcoming dividends indicating a positive change to $4.00 per share.

KG&L Capital Management LLC lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 47.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,260 shares of the investment management company's stock after selling 4,727 shares during the quarter. The Goldman Sachs Group makes up approximately 1.1% of KG&L Capital Management LLC's portfolio, making the stock its 24th biggest holding. KG&L Capital Management LLC's holdings in The Goldman Sachs Group were worth $3,666,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GS. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $25,000. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group in the 1st quarter valued at approximately $29,000. Godsey & Gibb Inc. grew its stake in The Goldman Sachs Group by 170.0% in the 1st 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 in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of The Goldman Sachs Group during the 4th quarter valued at $31,000. Finally, Cornerstone Planning Group LLC grew its position in shares of The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock valued at $38,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 71.21% of the company's stock.

Insider Activity

In other news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction dated 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 approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GS shares. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Zacks Research lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Finally, Citigroup upped their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $665.00.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $802.91 on Friday. 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 business's 50 day simple moving average is $747.32 and its two-hundred day simple moving average is $647.18. The stock has a market capitalization of $243.06 billion, a P/E ratio of 17.69, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25.

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 the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.62 earnings per share. Analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio 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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