The Goldman Sachs Group, Inc. $GS Position Reduced by Gunderson Capital Management Inc.

Key Points

• Gunderson Capital Management Inc. reduced its stake in The Goldman Sachs Group by 4.1% during the second quarter, bringing its holdings to 20,447 shares worth approximately $14.47 million.
• Several analysts have recently increased their price targets for the stock, with Citigroup raising their target from $550 to $700 and Deutsche Bank moving theirs from $725 to $790.
• The Goldman Sachs Group announced a quarterly dividend of $4.00 per share, up from the previous dividend of $3.00, reflective of a 2.1% dividend yield.

Gunderson Capital Management Inc. lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,447 shares of the investment management company's stock after selling 867 shares during the quarter. The Goldman Sachs Group makes up 6.0% of Gunderson Capital Management Inc.'s investment portfolio, making the stock its 3rd largest position. Gunderson Capital Management Inc.'s holdings in The Goldman Sachs Group were worth $14,471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Dogwood Wealth Management LLC raised its stake in shares of The Goldman Sachs Group by 1,800.0% during the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after acquiring an additional 36 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group in the first quarter valued at $25,000. American Capital Advisory LLC bought a new stake in shares of The Goldman Sachs Group during the first quarter valued at approximately $29,000. Ridgewood Investments LLC lifted its holdings in shares of The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after purchasing an additional 17 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in shares of The Goldman Sachs Group by 46.9% during the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock valued at $38,000 after acquiring an additional 23 shares in the last quarter. Institutional investors own 71.21% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citigroup boosted their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft increased their target price on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a "hold" rating in a report on Tuesday, September 30th. Morgan Stanley increased their target price on The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $727.31.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction 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 in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 over the last three months. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE GS opened at $779.60 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The stock's fifty day moving average price is $759.68 and its 200 day moving average price is $661.09. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $236.00 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.47 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $8.62 earnings per share. 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 firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. 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 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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