Louisbourg Investments Inc. Sells 2,220 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Louisbourg Investments Inc. reduced its stake in The Goldman Sachs Group by 67.2%, selling 2,220 shares and currently holding 1,084 shares valued at $767,000.
• Institutional investors own 71.21% of Goldman Sachs, with several stakeholders, including Kingstone Capital Partners, making significant adjustments to their holdings during the quarter.
• The Goldman Sachs Group's CFO and CEO both sold shares recently, indicating insider movements, with significant sales occurring at prices around $724.40 and $712.31 respectively.

Louisbourg Investments Inc. decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 67.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,084 shares of the investment management company's stock after selling 2,220 shares during the period. Louisbourg Investments Inc.'s holdings in The Goldman Sachs Group were worth $767,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC lifted its stake in The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock valued at $20,566,005,000 after purchasing an additional 29,053,586 shares during the last quarter. Northern Trust Corp lifted its stake in The Goldman Sachs Group by 1.2% in the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after purchasing an additional 40,125 shares during the last quarter. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter valued at approximately $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in The Goldman Sachs Group by 6.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock valued at $1,138,527,000 after purchasing an additional 120,272 shares during the last quarter. Finally, Amundi lifted its stake in The Goldman Sachs Group by 13.6% in the 1st quarter. Amundi now owns 1,891,260 shares of the investment management company's stock valued at $967,193,000 after purchasing an additional 225,993 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. HSBC raised their price target on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research note on Thursday, October 2nd. UBS Group raised their price target on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a "neutral" rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, BMO Capital Markets assumed coverage on shares of The Goldman Sachs Group in a research note on Friday, October 3rd. They set a "market perform" rating and a $785.00 price target for the company. Five investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $727.31.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $765.14 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The firm has a fifty day simple moving average of $760.79 and a 200 day simple moving average of $662.32. The company has a market capitalization of $231.62 billion, a PE ratio of 16.86, a P/E/G ratio of 1.47 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm earned $8.62 earnings per share. The Goldman Sachs Group's quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $4.00 dividend. The ex-dividend date 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 dividend on an annualized basis and a yield of 2.1%. The Goldman Sachs Group's dividend payout ratio is 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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