Northeast Investment Management Decreases Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Northeast Investment Management reduced its stake in The Goldman Sachs Group by 1.1%, now holding 42,009 shares valued at approximately $29.73 million.
• Goldman Sachs reported an EPS of $12.25 for the latest quarter, surpassing estimates, and achieved quarterly revenue of $11.33 billion, while revenue grew by 19.5% year-over-year.
• The company declared a quarterly dividend of $4.00, set to be paid on December 30th, with an annualized yield of 2.1%.

Northeast Investment Management lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,009 shares of the investment management company's stock after selling 448 shares during the quarter. The Goldman Sachs Group makes up about 1.3% of Northeast Investment Management's holdings, making the stock its 23rd biggest holding. Northeast Investment Management's holdings in The Goldman Sachs Group were worth $29,732,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group during the first quarter worth approximately $25,000. Dogwood Wealth Management LLC raised its holdings in The Goldman Sachs Group by 1,800.0% during the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group during the first quarter worth approximately $29,000. Cornerstone Planning Group LLC raised its holdings in The Goldman Sachs Group by 46.9% during the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after purchasing an additional 23 shares in the last quarter. Finally, Ridgewood Investments LLC raised its holdings in The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $750.71 on Friday. The firm's fifty day simple moving average is $765.25 and its 200-day simple moving average is $670.40. The stock has a market capitalization of $227.25 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.39 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 company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts' consensus estimates of $10.27 by $1.98. The business had revenue of $11.33 billion for the quarter, compared to analysts' expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $8.40 EPS. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group's payout ratio is currently 32.50%.

Analyst Upgrades and Downgrades

GS has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a "market perform" rating in a report on Friday. Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Citigroup raised their price objective on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the stock a "neutral" rating in a report on Thursday. Barclays raised their price objective on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the company a "hold" rating in a report on Tuesday, September 30th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus price target of $770.73.

Insider Activity

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the business'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 transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by corporate 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.

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