TD Asset Management Inc Has $125.52 Million Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• TD Asset Management Inc reduced its stake in The Goldman Sachs Group by 14.6%, owning 177,349 shares valued at approximately $125.52 million as of its latest SEC filing.
• CEO David M. Solomon sold 6,608 shares of Goldman Sachs at an average price of $712.31 per share, resulting in a total transaction of about $4.71 million, decreasing his ownership by 4.98%.
• The Goldman Sachs Group declared a quarterly dividend of $4.00 per share, set to pay on December 30th, representing an annualized yield of 2.1%.

TD Asset Management Inc trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,349 shares of the investment management company's stock after selling 30,310 shares during the period. TD Asset Management Inc owned 0.06% of The Goldman Sachs Group worth $125,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. Kingstone Capital Partners Texas LLC raised its position in shares of 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 buying an additional 29,053,586 shares in the last quarter. International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group during the first quarter valued at approximately $1,766,238,000. Nuveen LLC acquired a new position in The Goldman Sachs Group during the first quarter valued at approximately $897,185,000. Ninety One UK Ltd acquired a new position in The Goldman Sachs Group during the second quarter valued at approximately $408,780,000. Finally, Cohen Investment Advisors LLC raised its position in The Goldman Sachs Group by 5,559.2% during the first quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company's stock valued at $256,876,000 after purchasing an additional 461,911 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the company's 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 owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Royal Bank Of Canada restated a "neutral" rating and set a $843.00 price objective on shares of The Goldman Sachs Group in a research report on Tuesday. JMP Securities restated a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an "equal weight" rating in a research note on Monday, September 29th. Finally, Citigroup upped their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Five research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of "Hold" and a consensus target price of $746.69.

The Goldman Sachs Group Trading Down 2.0%

NYSE GS opened at $771.44 on Wednesday. The business's 50-day moving average price is $763.05 and its two-hundred day moving average price is $666.12. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The firm has a market capitalization of $233.53 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. 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 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 analysts' consensus estimates of $10.27 by $1.98. The firm had revenue of $11.33 billion for the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business's revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.40 EPS. On average, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders 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 dividend on an annualized basis and a yield of 2.1%. The Goldman Sachs Group's dividend 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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