The Goldman Sachs Group, Inc. $GS Stock Holdings Lessened by Cacti Asset Management LLC

Key Points

• Cacti Asset Management LLC reduced its stake in Goldman Sachs by 0.6%, owning 183,431 shares worth approximately $126.72 million, making it the firm’s second-largest holding.
• Research analysts have varied ratings on Goldman Sachs, with Zacks upgrading it to a strong-buy and Morgan Stanley raising the price target to $715, while HSBC lowered its rating to a moderate sell.
• The Goldman Sachs Group recently announced a quarterly dividend increase to $4.00, reflecting an annualized payout of $16.00 and a dividend yield of 2.0% following strong quarterly earnings performance.

Cacti Asset Management LLC lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,431 shares of the investment management company's stock after selling 1,150 shares during the quarter. The Goldman Sachs Group makes up approximately 9.2% of Cacti Asset Management LLC's holdings, making the stock its 2nd largest holding. Cacti Asset Management LLC owned 0.06% of The Goldman Sachs Group worth $126,716,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after purchasing an additional 508 shares during the period. Revolve Wealth Partners LLC increased its stake in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after purchasing an additional 58 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $583,000. Highview Capital Management LLC DE lifted its position in The Goldman Sachs Group by 4.7% during the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock worth $2,186,000 after buying an additional 171 shares during the period. Finally, Numerai GP LLC purchased a new position in The Goldman Sachs Group during the fourth quarter worth about $259,000. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Morgan Stanley upped their price target on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. JMP Securities reiterated a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Finally, Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $780.87 on Friday. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $793.17. 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 capitalization of $236.39 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41. The firm's fifty day moving average price is $728.85 and its 200 day moving average price is $631.49.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly 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 business 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 firm posted $8.62 earnings per share. The company's revenue was up 14.5% compared to the same quarter last year. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $4.00 dividend. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 35.26%.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. 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. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group 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.

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