Reliant Investment Management LLC Has $6.78 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Reliant Investment Management LLC increased its stake in The Goldman Sachs Group by 4.0%, holding 9,575 shares valued at approximately $6.78 million, which represents 2.9% of its total holdings.
• Goldman Sachs reported a quarterly EPS of $12.25, exceeding estimates, with a revenue of $11.33 billion, a 19.5% increase year-over-year.
• The firm announced a quarterly dividend of $4.00 per share, payable on December 30th, with a yield of 2.2% and a payout ratio of 32.5%.

Reliant Investment Management LLC boosted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,575 shares of the investment management company's stock after buying an additional 372 shares during the period. The Goldman Sachs Group makes up approximately 2.9% of Reliant Investment Management LLC's holdings, making the stock its 17th biggest holding. Reliant Investment Management LLC's holdings in The Goldman Sachs Group were worth $6,777,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dogwood Wealth Management LLC raised its holdings in The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after buying an additional 36 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $25,000. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Ridgewood Investments LLC raised its holdings in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after buying an additional 17 shares during the period. Finally, Cornerstone Planning Group LLC raised its holdings in The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after buying an additional 23 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO John E. Waldron sold 9,244 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares of the company's stock, valued at $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at $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 three months, insiders have sold 25,707 shares of company stock valued at $19,094,804. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Down 2.0%

GS stock opened at $744.18 on Thursday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The company's 50-day simple moving average is $766.42 and its 200 day simple moving average is $674.65. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. The company has a market capitalization of $225.28 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $13.68 billion. During the same period in the prior year, the company posted $8.40 earnings per share. The Goldman Sachs Group's revenue was up 19.5% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Investors of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a yield of 2.2%. The Goldman Sachs Group's dividend payout ratio is currently 32.50%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Weiss Ratings reiterated a "hold (c+)" rating on shares of The Goldman Sachs Group in a report on Wednesday, October 8th. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the company a "neutral" rating in a report on Thursday, October 16th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, JMP Securities reiterated a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Three analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $779.50.

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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