RFG Advisory LLC Lowers Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• RFG Advisory LLC reduced its stake in The Goldman Sachs Group by 22.3%, owning 3,666 shares worth approximately $2.6 million after selling 1,050 shares in the second quarter.
• The Goldman Sachs Group reported a Q3 EPS of $12.25, exceeding the consensus estimate by $1.98, with revenues of $11.33 billion, though it fell short of expectations of $13.68 billion.
• The company declared a quarterly dividend of $4.00 per share, set to be paid on December 30, representing an annualized dividend yield of 2.1%.

RFG Advisory LLC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 22.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,666 shares of the investment management company's stock after selling 1,050 shares during the period. RFG Advisory LLC's holdings in The Goldman Sachs Group were worth $2,594,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd purchased a new position in The Goldman Sachs Group in the 1st quarter valued at approximately $25,000. Dogwood Wealth Management LLC boosted its position in The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock valued at $26,000 after buying an additional 36 shares during the period. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group in the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC boosted its position in The Goldman Sachs Group by 46.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock valued at $38,000 after buying an additional 23 shares during the period. Finally, Ridgewood Investments LLC boosted its position in The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of GS opened at $771.44 on Wednesday. The firm's fifty day simple moving average is $763.05 and its 200-day simple moving average is $666.12. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. 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 firm has a market capitalization of $233.53 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 1.48 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period last year, the business earned $8.40 EPS. The Goldman Sachs Group's revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.1%. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JMP Securities reissued a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. HSBC raised their price target on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, UBS Group raised their price objective on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a "neutral" rating in a report on Tuesday, October 7th. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $746.69.

Insider Activity at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The shares were 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction on 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 sale, the executive vice president 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. Insiders have sold 38,323 shares of company stock valued at $28,111,828 over the last quarter. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group 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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