Shorepath Capital Management LLC Decreases Holdings in The Goldman Sachs Group, Inc. $GS

Shorepath Capital Management LLC reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,817 shares of the investment management company’s stock after selling 826 shares during the quarter. The Goldman Sachs Group makes up approximately 11.6% of Shorepath Capital Management LLC’s investment portfolio, making the stock its biggest position. Shorepath Capital Management LLC’s holdings in The Goldman Sachs Group were worth $14,025,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new position in The Goldman Sachs Group in the 1st quarter worth $25,000. Dogwood Wealth Management LLC raised its holdings in 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. American Capital Advisory LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth $29,000. Cornerstone Planning Group LLC raised its holdings in The Goldman Sachs Group by 46.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock worth $38,000 after purchasing an additional 23 shares during the period. Finally, Ridgewood Investments LLC raised its holdings in The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Trading Down 1.2%

Shares of The Goldman Sachs Group stock opened at $782.59 on Thursday. The firm has a market cap of $236.90 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.45 and a beta of 1.42. The business has a 50-day moving average price of $771.43 and a 200-day moving average price of $687.54. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The firm had revenue of $11.33 billion during the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $8.40 earnings per share. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be given a dividend of $4.00 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 32.50%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,244 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares in the company, valued at $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on GS. Wells Fargo & Company raised their price target 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. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Morgan Stanley decreased their price target on The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 8th. Finally, Hsbc Global Res cut The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $779.50.

The Goldman Sachs Group Company 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.