Lakeshore Capital Group Inc. Cuts Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Lakeshore Capital Group Inc. reduced its position in Goldman Sachs by 14.5% in Q2, now holding 2,039 shares worth approximately $1.44 million, making it the 23rd largest position in its portfolio.
• The Goldman Sachs Group reported earnings per share of $10.91, surpassing estimates, with revenues reaching $14.58 billion, a 14.5% increase year-over-year.
• The company announced a dividend increase, now paying $4.00 per share quarterly, reflecting positive growth and a 2.0% yield.

Lakeshore Capital Group Inc. decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,039 shares of the investment management company's stock after selling 345 shares during the quarter. The Goldman Sachs Group accounts for approximately 1.3% of Lakeshore Capital Group Inc.'s portfolio, making the stock its 23rd largest position. Lakeshore Capital Group Inc.'s holdings in The Goldman Sachs Group were worth $1,443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GS. Canada Pension Plan Investment Board raised its stake in shares of The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock valued at $286,418,000 after acquiring an additional 116,535 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at $321,000. Blueshift Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 161.8% in the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after acquiring an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. raised its stake in shares of The Goldman Sachs Group by 41.5% in the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after acquiring an additional 14,600 shares in the last quarter. Finally, Terra Nova Asset Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at $1,643,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $788.56 on Wednesday. The stock's 50-day moving average is $757.63 and its two-hundred day moving average is $658.90. The firm has a market cap of $238.71 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.64 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company posted $8.62 earnings per share. Analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a dividend of $4.00 per share. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is 35.26%.

Insider Buying and Selling

In related news, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares of the company's stock, valued at $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, 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 ninety days, insiders sold 38,323 shares of company stock worth $28,111,828. Corporate insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GS. Morgan Stanley increased their price objective on The Goldman Sachs Group from $706.00 to $854.00 and gave the company an "equal weight" rating in a research note on Monday, September 29th. BMO Capital Markets began coverage on The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a "market perform" rating and a $785.00 price target on the stock. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, HSBC raised their price target on The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $727.31.

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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