Kingswood Wealth Advisors LLC Has $4.59 Million Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Kingswood Wealth Advisors LLC reduced its stake in The Goldman Sachs Group by 30%, holding 6,489 shares valued at approximately $4.59 million as of the latest SEC filing.
• Analysts have varying ratings for Goldman Sachs, with five rating it as a Buy, while the average rating stands at "Hold" with a consensus price target of $717.00.
• The Goldman Sachs Group recently announced a dividend increase to $4.00 per share, with a 2.0% yield, following a previous quarterly dividend of $3.00.

Kingswood Wealth Advisors LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 30.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,489 shares of the investment management company's stock after selling 2,781 shares during the period. Kingswood Wealth Advisors LLC's holdings in The Goldman Sachs Group were worth $4,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Prasad Wealth Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 41.5% in the second quarter. Prasad Wealth Partners LLC now owns 845 shares of the investment management company's stock valued at $598,000 after purchasing an additional 248 shares in the last quarter. Joel Isaacson & Co. LLC boosted its holdings in The Goldman Sachs Group by 3.8% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 9,533 shares of the investment management company's stock worth $6,747,000 after acquiring an additional 351 shares during the last quarter. Laraway Financial Advisors Inc bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth $212,000. Stephen J. Garry & Associates LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $212,000. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $202,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on GS shares. Royal Bank Of Canada increased their price objective on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 1st. BMO Capital Markets assumed coverage on The Goldman Sachs Group in a research report on Friday. They issued a "market perform" rating and a $785.00 price objective on the stock. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus price target of $717.00.

Insider Buying and Selling

In other news, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO John E. Waldron sold 9,244 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares of the company's stock, valued at $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 sold 38,323 shares of company stock worth $28,111,828 over the last quarter. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $796.13 on Tuesday. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The stock has a market capitalization of $241.00 billion, a P/E ratio of 17.54, a PEG ratio of 1.64 and a beta of 1.42. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The firm's 50 day moving average is $756.50 and its 200 day moving average is $657.99.

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, topping the consensus estimate 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 prior year, the business posted $8.62 earnings per share. The business's quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $4.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $16.00 annualized dividend and a yield of 2.0%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is 35.26%.

The Goldman Sachs Group 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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