The Goldman Sachs Group, Inc. $GS Shares Sold by Northstar Advisory Group LLC

Key Points

• Northstar Advisory Group LLC reduced its holdings in The Goldman Sachs Group by 43.8% during the second quarter, now owning 3,105 shares valued at approximately $2.2 million.
• CEO David M. Solomon sold 6,608 shares of the company stock for nearly $4.7 million, resulting in a 4.98% decrease in his total holdings.
• The Goldman Sachs Group recently announced a quarterly dividend increase to $4.00 per share, reflecting a positive change from its previous dividend of $3.00.

Northstar Advisory Group LLC lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 43.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,105 shares of the investment management company's stock after selling 2,417 shares during the quarter. The Goldman Sachs Group accounts for approximately 1.1% of Northstar Advisory Group LLC's investment portfolio, making the stock its 28th largest position. Northstar Advisory Group LLC's holdings in The Goldman Sachs Group were worth $2,198,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new position in The Goldman Sachs Group during the first quarter valued at about $25,000. Mascagni Wealth Management Inc. bought a new position in The Goldman Sachs Group during the fourth quarter valued at about $31,000. American Capital Advisory LLC bought a new position in The Goldman Sachs Group during the first quarter valued at about $29,000. Godsey & Gibb Inc. boosted its stake in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after buying an additional 34 shares in the last quarter. Finally, Lowe Wealth Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. HSBC reaffirmed a "reduce" rating and set a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Finally, Citigroup lifted their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, The Goldman Sachs Group has a consensus rating of "Hold" and a consensus target price of $660.00.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $780.87 on Monday. The stock's fifty day simple moving average is $728.85 and its 200 day simple moving average is $631.75. 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 firm has a market cap of $236.38 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.64 and a beta of 1.41. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $793.17.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced 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 business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 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 quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.62 EPS. On average, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date is 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%.

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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