NorthCrest Asset Manangement LLC Sells 356 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• NorthCrest Asset Management LLC reduced its position in The Goldman Sachs Group by 0.6%, selling 356 shares, which now accounts for approximately 1.2% of their portfolio.
• The Goldman Sachs Group recently announced a quarterly dividend of $4.00 per share, an increase from the previous $3.00, indicating strong financial performance.
• Insider selling included CFO Denis P. Coleman, who sold 7,463 shares, leading to a 28.64% decrease in his ownership of the stock.

NorthCrest Asset Manangement LLC decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,041 shares of the investment management company's stock after selling 356 shares during the period. The Goldman Sachs Group makes up about 1.2% of NorthCrest Asset Manangement LLC's portfolio, making the stock its 13th biggest holding. NorthCrest Asset Manangement LLC's holdings in The Goldman Sachs Group were worth $45,622,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. King Wealth Management Group raised its stake in shares of The Goldman Sachs Group by 1.8% in the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock valued at $593,000 after acquiring an additional 19 shares during the last quarter. Raab & Moskowitz Asset Management LLC raised its stake in The Goldman Sachs Group by 0.9% during the first quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company's stock worth $1,104,000 after buying an additional 19 shares during the last quarter. Wynn Capital LLC increased its position in shares of The Goldman Sachs Group by 0.3% during the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after acquiring an additional 20 shares in the last quarter. 1900 Wealth Management LLC boosted its stake in The Goldman Sachs Group by 2.6% in the first quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock valued at $425,000 after acquiring an additional 20 shares during the last quarter. Finally, World Equity Group Inc. increased its holdings in The Goldman Sachs Group by 0.9% during the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock worth $1,273,000 after acquiring an additional 20 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citigroup lifted 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 report on Monday, July 21st. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Hsbc Global Res downgraded The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Finally, Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Five equities 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $665.00.

The Goldman Sachs Group Stock Up 0.0%

Shares of NYSE:GS traded up $0.14 during trading on Friday, hitting $804.45. 3,788,014 shares of the company were exchanged, compared to its average volume of 1,604,564. 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 Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $809.66. The stock has a market cap of $243.52 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.68 and a beta of 1.41. The firm has a fifty day moving average price of $738.03 and a two-hundred day moving average price of $638.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the business posted $8.62 earnings per share. The Goldman Sachs Group's revenue was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal 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 issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is 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 35.26%.

Insider Activity

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 shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David M. Solomon sold 6,608 shares of the 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 sale, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% 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 in the last ninety days. 0.55% of the stock is currently owned by insiders.

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.