The Goldman Sachs Group, Inc. $GS Position Cut by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR has reduced its stake in The Goldman Sachs Group by 9.5%, now holding 31,103 shares valued at approximately $22 million, following a sale of 3,255 shares in the second quarter.
• Insider sales included a 28.64% reduction in shares by CFO Denis P. Coleman and a 4.98% decrease by CEO David M. Solomon during July, indicating a recent trend of insider selling.
• A number of brokerages have raised their price targets for Goldman Sachs, with Morgan Stanley increasing it from $706 to $854, while the stock currently has a consensus rating of Hold and a price target of $746.69.

Generali Asset Management SPA SGR decreased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,103 shares of the investment management company's stock after selling 3,255 shares during the quarter. Generali Asset Management SPA SGR's holdings in The Goldman Sachs Group were worth $22,013,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of GS. Brighton Jones LLC grew its position in The Goldman Sachs Group by 17.1% in the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after purchasing an additional 508 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after buying an additional 58 shares during the period. GAMMA Investing LLC grew its holdings in The Goldman Sachs Group by 17.1% in the 1st quarter. GAMMA Investing LLC now owns 7,279 shares of the investment management company's stock worth $3,977,000 after buying an additional 1,062 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in The Goldman Sachs Group by 73.7% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,419 shares of the investment management company's stock valued at $1,868,000 after acquiring an additional 1,451 shares during the period. Finally, Mission Wealth Management LP raised its stake in The Goldman Sachs Group by 48.1% during the 1st quarter. Mission Wealth Management LP now owns 5,131 shares of the investment management company's stock valued at $2,803,000 after acquiring an additional 1,666 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Activity

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the business'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 of the company's stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock worth $28,111,828 in the last quarter. Insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GS. Morgan Stanley raised their price target on The Goldman Sachs Group from $706.00 to $854.00 and gave the company an "equal weight" rating in a report on Monday, September 29th. Royal Bank Of Canada reiterated a "neutral" rating and issued a $843.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. 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, Evercore ISI raised their price objective on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an "outperform" rating in a research note on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $746.69.

The Goldman Sachs Group Trading Down 2.0%

Shares of NYSE GS opened at $771.44 on Wednesday. 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, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The company has a market cap of $233.53 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.48 and a beta of 1.42. The business has a fifty day simple moving average of $763.05 and a 200-day simple moving average of $666.12.

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

The Goldman Sachs Group Announces Dividend

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

The Goldman Sachs Group Company 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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