The Goldman Sachs Group, Inc. $GS Shares Sold by Lmcg Investments LLC

Key Points

• Lmcg Investments LLC reduced its stake in The Goldman Sachs Group by 2.6%, owning 46,535 shares after selling 1,255 shares during the second quarter.
• The Goldman Sachs Group reported $10.91 earnings per share for the last quarter, exceeding analyst expectations of $9.82, and reflecting a year-over-year revenue increase of 14.5% to $14.58 billion.
• The company recently raised its quarterly dividend from $3.00 to $4.00, representing a 2.1% dividend yield and an annualized total of $16.00 per share.

Lmcg Investments LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,535 shares of the investment management company's stock after selling 1,255 shares during the period. The Goldman Sachs Group comprises approximately 2.1% of Lmcg Investments LLC's holdings, making the stock its 8th largest holding. Lmcg Investments LLC's holdings in The Goldman Sachs Group were worth $32,935,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group in the first quarter worth $25,000. Dogwood Wealth Management LLC boosted its stake in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group in the first quarter worth $29,000. Cornerstone Planning Group LLC boosted its stake in The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after purchasing an additional 23 shares in the last quarter. Finally, Ridgewood Investments LLC boosted its stake in The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after purchasing an additional 17 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Down 1.9%

NYSE: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 quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $231.62 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.47 and a beta of 1.42. The stock's fifty day simple moving average is $760.79 and its 200-day simple moving average is $662.32.

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 earnings per share (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 business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the company earned $8.62 EPS. The firm's revenue was up 14.5% on a year-over-year basis. Equities research analysts expect 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 declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a $4.00 dividend. The ex-dividend date was Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is 35.26%.

Wall Street Analyst Weigh In

GS has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on 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. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Citigroup increased their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. 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, Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. 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 Goldman Sachs Group has an average rating of "Hold" and a consensus target price of $727.31.

Insider Buying and Selling

In other news, COO John E. Waldron sold 9,244 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at $86,463,679.48. This trade represents a 7.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction on Friday, July 25th. The stock was 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. This represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 over the last 90 days. Company 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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