The Goldman Sachs Group, Inc. $GS Shares Sold by IFP Advisors Inc

IFP Advisors Inc decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 39.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,563 shares of the investment management company's stock after selling 1,655 shares during the quarter. IFP Advisors Inc's holdings in The Goldman Sachs Group were worth $1,973,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Baldwin Wealth Partners LLC MA acquired a new stake in shares of The Goldman Sachs Group during the second quarter worth $216,000. Callan Family Office LLC boosted its holdings in shares of The Goldman Sachs Group by 264.3% during the second quarter. Callan Family Office LLC now owns 19,725 shares of the investment management company's stock worth $13,960,000 after purchasing an additional 14,310 shares during the last quarter. Mainstay Capital Management LLC ADV boosted its holdings in The Goldman Sachs Group by 99.9% in the second quarter. Mainstay Capital Management LLC ADV now owns 6,613 shares of the investment management company's stock valued at $4,680,000 after acquiring an additional 3,305 shares during the last quarter. Leo Wealth LLC boosted its holdings in The Goldman Sachs Group by 24.1% in the second quarter. Leo Wealth LLC now owns 2,852 shares of the investment management company's stock valued at $2,009,000 after acquiring an additional 554 shares during the last quarter. Finally, Baxter Bros Inc. boosted its holdings in The Goldman Sachs Group by 1.8% in the second quarter. Baxter Bros Inc. now owns 15,322 shares of the investment management company's stock valued at $10,844,000 after acquiring an additional 272 shares during 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, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Down 1.9%

GS opened at $765.14 on Friday. 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 debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $231.62 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.44 and a beta of 1.42. The stock's 50 day moving average price is $760.79 and its 200 day moving average price is $662.94.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm 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 company earned $8.62 earnings per share. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is presently 35.26%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Evercore ISI lifted their target price on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. BMO Capital Markets assumed coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They issued a "market perform" rating and a $785.00 target price on the stock. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, HSBC lifted their target price on The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $727.31.

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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