RPG Investment Advisory LLC Sells 7,228 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

RPG Investment Advisory LLC decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 30.9% during the second quarter, HoldingsChannel reports. The firm owned 16,199 shares of the investment management company’s stock after selling 7,228 shares during the quarter. RPG Investment Advisory LLC’s holdings in The Goldman Sachs Group were worth $7,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of GS. Capital World Investors increased its position in The Goldman Sachs Group by 6.0% during the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after acquiring an additional 338,181 shares during the period. Fisher Asset Management LLC increased its position in The Goldman Sachs Group by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 5,516,093 shares of the investment management company’s stock worth $2,127,944,000 after acquiring an additional 150,532 shares during the period. Price T Rowe Associates Inc. MD increased its position in The Goldman Sachs Group by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after acquiring an additional 274,989 shares during the period. Bank of New York Mellon Corp increased its position in The Goldman Sachs Group by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 4,895,928 shares of the investment management company’s stock worth $2,044,980,000 after acquiring an additional 141,538 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group in the 1st quarter valued at $1,903,374,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $488.57 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The firm has a fifty day simple moving average of $489.83 and a 200 day simple moving average of $449.31. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.26. The stock has a market capitalization of $157.55 billion, a PE ratio of 19.08, a P/E/G ratio of 0.74 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 35.49 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 46.86%.

Analysts Set New Price Targets

Several brokerages have recently commented on GS. Keefe, Bruyette & Woods boosted their target price on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Evercore ISI upped their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Barclays increased their price target on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $496.44.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,013,500 shares of company stock valued at $32,181,365. 0.54% of the stock is currently owned by corporate insiders.

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.