Signal Advisors Wealth LLC Trims Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Signal Advisors Wealth LLC significantly reduced its stake in The Goldman Sachs Group by 80.4%, now holding 545 shares valued at approximately $386,000.
• Insider transactions included high-profile sales by CFO Denis P. Coleman and CEO David M. Solomon, indicating a decrease in their holdings by 28.64% and 4.98%, respectively.
• The company announced a quarterly dividend of $4.00 per share, a notable increase from the previous dividend of $3.00, representing an annualized payout of $16.00.

Signal Advisors Wealth LLC trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 80.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 545 shares of the investment management company's stock after selling 2,233 shares during the quarter. Signal Advisors Wealth LLC's holdings in The Goldman Sachs Group were worth $386,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board lifted its stake in The Goldman Sachs Group by 28.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock valued at $286,418,000 after buying an additional 116,535 shares in the last quarter. Clear Creek Financial Management LLC purchased a new position in The Goldman Sachs Group in the 1st quarter valued at about $321,000. Blueshift Asset Management LLC lifted its stake in The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after buying an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. lifted its stake in The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after buying an additional 14,600 shares in the last quarter. Finally, Terra Nova Asset Management LLC purchased a new position in The Goldman Sachs Group in the 1st quarter valued at about $1,643,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Citigroup raised their price target on shares of 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. Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Zacks Research lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and an average target price of $665.00.

The Goldman Sachs Group Stock Up 2.0%

Shares of NYSE GS traded up $15.72 during midday trading on Tuesday, hitting $821.28. The company's stock had a trading volume of 338,740 shares, compared to its average volume of 2,434,405. The business's fifty day simple moving average is $739.87 and its two-hundred day simple moving average is $640.52. 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 Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The firm has a market capitalization of $248.62 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data 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 Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm posted $8.62 earnings per share. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's payout ratio is presently 35.26%.

Insider Activity

In related 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 value of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares in the company, valued at $86,463,679.48. The trade was a 7.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David M. Solomon sold 6,608 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 $712.31, for a total transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 over the last three months. Insiders own 0.55% of the company's stock.

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.