J. Safra Sarasin Holding AG Trims Position in The Goldman Sachs Group, Inc. $GS

J. Safra Sarasin Holding AG lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,706 shares of the investment management company’s stock after selling 1,138 shares during the period. J. Safra Sarasin Holding AG’s holdings in The Goldman Sachs Group were worth $8,185,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Dogwood Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after purchasing an additional 36 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group during the 1st quarter valued at about $25,000. American Capital Advisory LLC purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $29,000. Godsey & Gibb Inc. raised its holdings in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after buying an additional 34 shares during the last quarter. Finally, Ridgewood Investments LLC lifted its position in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after acquiring an additional 17 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on GS shares. Royal Bank Of Canada lifted their price objective on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a “sector perform” rating in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $709.13.

Insider Activity

In other The Goldman Sachs Group news, 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 transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John F.W. Rogers sold 6,008 shares of the 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 directly owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 Price Performance

GS stock opened at $779.53 on Friday. The company has a market capitalization of $235.98 billion, a PE ratio of 17.18, a P/E/G ratio of 1.63 and a beta of 1.42. 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 current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The business’s fifty day moving average price is $753.82 and its 200 day moving average price is $653.41.

The Goldman Sachs Group (NYSE:GS) 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 business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $8.62 earnings per share. On average, sell-side analysts anticipate 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 was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, August 29th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s dividend payout ratio (DPR) 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.