Riverview Trust Co Has $190,000 Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Riverview Trust Co reduced its holdings in The Goldman Sachs Group by 59.1% during the second quarter, bringing its total shares down to 268 valued at approximately $190,000.
• A significant increase in holdings was noted for Kingstone Capital Partners, which boosted its position in Goldman Sachs by over 617,000%, acquiring 29 million shares worth around $20.57 billion.
• The company announced a quarterly dividend of $4.00 per share, increasing its annual dividend yield to 2.0% compared to the previous $3.00 quarterly dividend.

Riverview Trust Co cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 59.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 268 shares of the investment management company's stock after selling 387 shares during the quarter. Riverview Trust Co's holdings in The Goldman Sachs Group were worth $190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. Kingstone Capital Partners Texas LLC boosted its holdings in The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock valued at $20,566,005,000 after acquiring an additional 29,053,586 shares during the last quarter. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group in the first quarter valued at about $1,766,238,000. Nuveen LLC bought a new position in The Goldman Sachs Group in the first quarter valued at about $897,185,000. Assenagon Asset Management S.A. boosted its holdings in The Goldman Sachs Group by 102.6% in the first quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock valued at $8,065,000 after acquiring an additional 585,084 shares during the last quarter. Finally, Ninety One UK Ltd bought a new position in The Goldman Sachs Group in the second quarter valued at about $408,780,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares of the company's stock, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GS has been the topic of several recent research reports. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Citigroup raised their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their target price 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. Finally, Morgan Stanley raised their target price on The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an "equal weight" rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $709.13.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $788.44 on Thursday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The firm's 50 day moving average price is $752.61 and its two-hundred day moving average price is $651.83. The firm has a market cap of $238.68 billion, a P/E ratio of 17.37, a PEG ratio of 1.65 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating 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 analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm posted $8.62 earnings per share. The business's revenue was up 14.5% on a year-over-year basis. On average, analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were given a $4.00 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is 35.26%.

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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