MBL Wealth LLC Cuts Stock Position in The Goldman Sachs Group, Inc. $GS

MBL Wealth LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,079 shares of the investment management company’s stock after selling 86 shares during the period. MBL Wealth LLC’s holdings in The Goldman Sachs Group were worth $1,472,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Mechanics Financial Corp grew its position in shares of The Goldman Sachs Group by 5.8% during the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock valued at $208,000 after purchasing an additional 16 shares in the last quarter. Ridgewood Investments LLC grew its position in shares of The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 17 shares in the last quarter. Bank of Stockton grew its position in shares of The Goldman Sachs Group by 0.7% during the second quarter. Bank of Stockton now owns 2,485 shares of the investment management company’s stock valued at $1,759,000 after purchasing an additional 17 shares in the last quarter. Western Financial Corp CA grew its position in shares of The Goldman Sachs Group by 0.5% during the second quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company’s stock valued at $2,546,000 after purchasing an additional 17 shares in the last quarter. Finally, Ameriflex Group Inc. grew its position in shares of The Goldman Sachs Group by 21.4% during the second quarter. Ameriflex Group Inc. now owns 102 shares of the investment management company’s stock valued at $70,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GS shares. Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. HSBC lifted their price target on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Morgan Stanley lifted their price target on The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $717.00.

Insider Activity at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 of the company’s stock, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 stock was 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 directly owned 18,594 shares of the company’s stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $790.32 on Friday. The company has a 50 day moving average price of $755.05 and a 200-day moving average price of $655.73. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The company has a market capitalization of $239.25 billion, a PE ratio of 17.42, a P/E/G ratio of 1.64 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share 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 firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a dividend of $4.00 per share. This is a boost 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 ex-dividend date of this dividend was Friday, August 29th. The Goldman Sachs Group’s payout ratio is presently 35.26%.

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.