Yousif Capital Management LLC Trims Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Yousif Capital Management LLC reduced its stake in The Goldman Sachs Group, Inc. by 2.4% during the second quarter, holding 41,985 shares valued at approximately $29.7 million.
• The Goldman Sachs Group reported earnings of $10.91 per share for the latest quarter, exceeding analysts' expectations of $9.82, with revenue of $14.58 billion.
• Various institutional investors, including Kingstone Capital Partners and Amundi, have significantly increased their holdings in The Goldman Sachs Group, with hedge funds owning 71.21% of the stock.

Yousif Capital Management LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,985 shares of the investment management company's stock after selling 1,044 shares during the period. Yousif Capital Management LLC's holdings in The Goldman Sachs Group were worth $29,715,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC lifted its position in The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock valued at $20,566,005,000 after acquiring an additional 29,053,586 shares during the last quarter. Northern Trust Corp lifted its position in The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after acquiring an additional 40,125 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group in the first quarter valued at $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in The Goldman Sachs Group by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock valued at $1,138,527,000 after acquiring an additional 120,272 shares during the last quarter. Finally, Amundi increased its stake in The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company's stock valued at $967,193,000 after purchasing an additional 225,993 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Down 1.9%

Shares of The Goldman Sachs Group stock opened at $765.14 on Monday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week 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 company's 50-day simple moving average is $760.79 and its 200-day simple moving average is $663.66. The firm has a market cap of $231.62 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the business posted $8.62 earnings per share. The business's revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

Insider Activity

In other news, COO John E. Waldron sold 9,244 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction 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. The trade was a 7.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on GS. Evercore ISI lifted their price objective on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the company an "outperform" rating in a research note on Tuesday, September 30th. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. JMP Securities restated a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $746.69.

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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.