TBH Global Asset Management LLC Lowers Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• TBH Global Asset Management LLC reduced its stake in The Goldman Sachs Group by 10.9% during Q2, holding a total of 2,767 shares valued at approximately $1.96 million after selling 339 shares.
• The Goldman Sachs Group's recent quarterly earnings reported $10.91 earnings per share, exceeding estimates and showing a 14.5% increase in revenue year-over-year, totaling $14.58 billion.
• Goldman Sachs announced a quarterly dividend increase to $4.00 per share, up from $3.00, with a yield of 2.0% and an ex-dividend date of August 29th.

TBH Global Asset Management LLC lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,767 shares of the investment management company's stock after selling 339 shares during the period. TBH Global Asset Management LLC's holdings in The Goldman Sachs Group were worth $1,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chatham Capital Group Inc. raised its holdings in shares of The Goldman Sachs Group by 2.4% during the 2nd quarter. Chatham Capital Group Inc. now owns 1,952 shares of the investment management company's stock valued at $1,382,000 after buying an additional 45 shares in the last quarter. Western Financial Corp CA boosted its stake in The Goldman Sachs Group by 0.5% in the second quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company's stock worth $2,546,000 after buying an additional 17 shares in the last quarter. Signature Resources Capital Management LLC raised its stake in shares of The Goldman Sachs Group by 90.0% during the second quarter. Signature Resources Capital Management LLC now owns 190 shares of the investment management company's stock worth $134,000 after acquiring an additional 90 shares in the last quarter. Spirepoint Private Client LLC boosted its stake in shares of The Goldman Sachs Group by 252.6% in the 2nd quarter. Spirepoint Private Client LLC now owns 8,758 shares of the investment management company's stock valued at $6,198,000 after purchasing an additional 6,274 shares in the last quarter. Finally, ORG Wealth Partners LLC lifted its stake in The Goldman Sachs Group by 10.0% in the second quarter. ORG Wealth Partners LLC now owns 636 shares of the investment management company's stock worth $450,000 after purchasing an additional 58 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GS. 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 report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Finally, Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of "Hold" and an average price target of $665.00.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $802.91 on Friday. The business has a 50 day moving average of $747.32 and a 200 day moving average of $647.18. 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 cap of $243.06 billion, a PE ratio of 17.69, a P/E/G ratio of 1.67 and a beta of 1.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the previous year, the business posted $8.62 earnings per share. The firm's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the firm'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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 38,323 shares of company stock valued at $28,111,828. Insiders own 0.55% of the company's stock.

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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