The Goldman Sachs Group, Inc. $GS Stake Lessened by Beacon Financial Advisory LLC

Beacon Financial Advisory LLC lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,154 shares of the investment management company’s stock after selling 39 shares during the period. Beacon Financial Advisory LLC’s holdings in The Goldman Sachs Group were worth $1,525,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Gemmer Asset Management LLC acquired a new stake in The Goldman Sachs Group during the second quarter valued at $229,000. Marietta Wealth Management LLC boosted its position in The Goldman Sachs Group by 0.6% during the second quarter. Marietta Wealth Management LLC now owns 17,807 shares of the investment management company’s stock valued at $12,603,000 after purchasing an additional 100 shares during the last quarter. Simplicity Wealth LLC boosted its position in The Goldman Sachs Group by 4.9% during the second quarter. Simplicity Wealth LLC now owns 2,572 shares of the investment management company’s stock valued at $1,820,000 after purchasing an additional 120 shares during the last quarter. OLD National Bancorp IN boosted its position in The Goldman Sachs Group by 34.2% during the second quarter. OLD National Bancorp IN now owns 4,249 shares of the investment management company’s stock valued at $3,007,000 after purchasing an additional 1,084 shares during the last quarter. Finally, Olistico Wealth LLC boosted its position in The Goldman Sachs Group by 33.1% during the second quarter. Olistico Wealth LLC now owns 1,480 shares of the investment management company’s stock valued at $1,048,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Denis P. Coleman sold 7,463 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Up 1.4%

The Goldman Sachs Group stock opened at $790.32 on Friday. 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 business’s 50-day simple moving average is $755.05 and its 200-day simple moving average is $655.73. The firm has a market capitalization of $239.25 billion, a PE ratio of 17.42, a PEG ratio of 1.64 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25.

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, topping analysts’ consensus estimates of $9.82 by $1.09. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $8.62 earnings per share. Equities research 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 firm 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. The ex-dividend date was Friday, August 29th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $3.00. 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 is presently 35.26%.

Analysts Set New Price Targets

A number of analysts recently issued reports on GS shares. Deutsche Bank Aktiengesellschaft lifted their price objective on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Royal Bank Of Canada raised their target price on The Goldman Sachs Group from $750.00 to $843.00 and gave the company a “sector perform” rating in a report on Wednesday. Wall Street Zen raised The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. JMP Securities reaffirmed a “market perform” rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Citigroup boosted their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $717.00.

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.