Stock Yards Bank & Trust Co. Acquires 33 Shares of The Goldman Sachs Group, Inc. $GS

Stock Yards Bank & Trust Co. grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,668 shares of the investment management company’s stock after buying an additional 33 shares during the period. Stock Yards Bank & Trust Co.’s holdings in The Goldman Sachs Group were worth $1,181,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its holdings in shares of The Goldman Sachs Group by 28.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock worth $286,418,000 after buying an additional 116,535 shares in the last quarter. Clear Creek Financial Management LLC bought a new position in shares of The Goldman Sachs Group in the 1st quarter worth $321,000. Blueshift Asset Management LLC lifted its holdings in shares of The Goldman Sachs Group by 161.8% in the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock worth $576,000 after purchasing an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. lifted its holdings in shares of The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock worth $27,205,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Terra Nova Asset Management LLC bought a new position in shares of The Goldman Sachs Group in the 1st quarter worth $1,643,000. 71.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the sale, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at $89,876,426.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BMO Capital Markets assumed coverage on The Goldman Sachs Group in a report on Friday. They issued a “market perform” rating and a $785.00 target price on the stock. Morgan Stanley increased their target price on The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Citigroup increased their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Royal Bank Of Canada increased their target price on The Goldman Sachs Group from $750.00 to $843.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Hsbc Global Res lowered The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Five investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $717.00.

The Goldman Sachs Group Trading Up 1.4%

Shares of The Goldman Sachs Group stock opened at $790.32 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The firm has a market cap 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 stock has a fifty 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 current ratio of 0.67 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the firm posted $8.62 EPS. The business’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $4.00 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The Goldman Sachs Group’s payout ratio 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.