Matrix Asset Advisors Inc. NY Sells 1,455 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Matrix Asset Advisors Inc. reduced its stake in The Goldman Sachs Group by 4.8%, selling 1,455 shares, and now holds 28,974 shares valued at approximately $20.5 million.
• The Goldman Sachs Group reported a strong quarterly earnings, with $10.91 EPS, exceeding analyst expectations, and a revenue of $14.58 billion, up 14.5% year-over-year.
• Goldman Sachs announced a quarterly dividend increase to $4.00 per share, reflecting a 2.1% yield and a positive change from the previous dividend of $3.00.

Matrix Asset Advisors Inc. NY cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,974 shares of the investment management company's stock after selling 1,455 shares during the period. The Goldman Sachs Group comprises 2.1% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 18th largest holding. Matrix Asset Advisors Inc. NY's holdings in The Goldman Sachs Group were worth $20,507,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its holdings in shares of The Goldman Sachs Group by 28.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock worth $286,418,000 after buying an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth about $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 during the period. 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 during the period. Finally, Terra Nova Asset Management LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter valued at $1,643,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Down 1.9%

NYSE GS opened at $765.14 on Friday. The company's 50-day moving average price is $760.79 and its 200-day moving average price is $662.94. 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 stock has a market cap of $231.62 billion, a PE ratio of 16.86, a PEG ratio of 1.44 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS 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 firm had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the prior year, the business posted $8.62 earnings per share. The business's revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced 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. This represents a $16.00 annualized dividend and a yield of 2.1%. 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. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 35.26%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the 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 in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 in the last 90 days. Insiders own 0.55% of the company's stock.

Analyst Ratings Changes

GS has been the topic of several recent analyst reports. 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. Zacks Research downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. BMO Capital Markets initiated coverage on shares of The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a "market perform" rating and a $785.00 target price on the stock. UBS Group increased their target price 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, October 7th. Finally, Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $727.31.

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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