Parkside Investments LLC Reduces Position in The Goldman Sachs Group, Inc. $GS

Parkside Investments LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,664 shares of the investment management company’s stock after selling 346 shares during the quarter. The Goldman Sachs Group accounts for about 1.5% of Parkside Investments LLC’s investment portfolio, making the stock its 20th biggest position. Parkside Investments LLC’s holdings in The Goldman Sachs Group were worth $11,086,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GS. Kingstone Capital Partners Texas LLC increased its position in shares of The Goldman Sachs Group by 617,504.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after acquiring an additional 29,053,586 shares during the last quarter. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group in the first quarter valued at about $1,766,238,000. Nuveen LLC bought a new stake in The Goldman Sachs Group in the first quarter valued at about $897,185,000. Assenagon Asset Management S.A. increased its holdings in The Goldman Sachs Group by 102.6% in the first quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company’s stock valued at $8,065,000 after buying an additional 585,084 shares during the last quarter. Finally, Cohen Investment Advisors LLC increased its holdings in The Goldman Sachs Group by 5,559.2% in the first quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company’s stock valued at $256,876,000 after buying an additional 461,911 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GS has been the subject of several research analyst reports. Wall Street Zen raised The Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Citigroup lifted their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Wells Fargo & Company upped their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. JMP Securities reaffirmed a “market perform” rating and set a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Morgan Stanley upped their target price on The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a report on Monday. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $674.93.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the sale, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the company’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 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. Over the last ninety days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS opened at $804.07 on Tuesday. 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 stock has a 50 day simple moving average of $749.28 and a 200-day simple moving average of $649.87. The company has a market cap of $243.41 billion, a PE ratio of 17.72, a P/E/G ratio of 1.67 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion during 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 firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.62 earnings per share. On average, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group’s payout ratio is currently 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.