The Goldman Sachs Group, Inc. $GS Stock Holdings Lessened by Meyer Handelman Co.

Key Points

• Meyer Handelman Co. reduced its stake in The Goldman Sachs Group, Inc. by 15.1% in Q2, owning 15,775 shares valued at approximately $11.17 million after selling 2,800 shares.
• The Goldman Sachs Group recently announced a quarterly dividend increase from $3.00 to $4.00, representing a 2.0% yield and a payout ratio of 35.26%.
• Analysts have mixed ratings on Goldman Sachs, with a consensus rating of "Hold" and an average target price of $665.00, while Morgan Stanley set a higher target of $715.00.

Meyer Handelman Co. trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 15.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,775 shares of the investment management company's stock after selling 2,800 shares during the quarter. Meyer Handelman Co.'s holdings in The Goldman Sachs Group were worth $11,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in GS. Brighton Jones LLC lifted its position in shares of The Goldman Sachs Group by 17.1% in the fourth 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 in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of 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 worth $508,000 after purchasing an additional 58 shares in the last quarter. Two Sigma Investments LP lifted its stake in The Goldman Sachs Group by 4.5% in the fourth quarter. Two Sigma Investments LP now owns 6,513 shares of the investment management company's stock valued at $3,729,000 after acquiring an additional 280 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $48,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on GS shares. Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. HSBC reiterated a "reduce" rating and issued a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Zacks Research cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Finally, Morgan Stanley lifted their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $665.00.

Insider Activity at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction 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 sale, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction 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 completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 0.3%

Shares of GS stock opened at $794.75 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 business's 50 day moving average is $745.43 and its two-hundred day moving average is $644.54. The company has a market cap of $240.59 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41.

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 company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company posted $8.62 earnings per share. 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 business also recently disclosed 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. 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. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is 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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