Spire Wealth Management Cuts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Spire Wealth Management lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,322 shares of the investment management company’s stock after selling 249 shares during the quarter. Spire Wealth Management’s holdings in The Goldman Sachs Group were worth $2,407,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GS. International Assets Investment Management LLC acquired a new stake in The Goldman Sachs Group in the first quarter valued at $1,903,374,000. Norges Bank acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at $1,120,119,000. AMF Tjanstepension AB boosted its stake in shares of The Goldman Sachs Group by 1,102.4% during the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after acquiring an additional 743,402 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of The Goldman Sachs Group by 27.0% during the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after acquiring an additional 464,954 shares during the last quarter. Finally, Verity & Verity LLC boosted its stake in shares of The Goldman Sachs Group by 26,378.2% during the first quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock valued at $170,000 after acquiring an additional 406,224 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insiders Place Their Bets

In other The Goldman Sachs Group 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 sale, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction 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 approximately $6,119,949.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following 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. Insiders sold 4,013,500 shares of company stock valued at $32,181,365 over the last quarter. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Up 0.6 %

GS traded up $3.13 during trading on Friday, reaching $510.25. 1,839,064 shares of the stock traded hands, compared to its average volume of 2,274,769. The stock has a market cap of $164.54 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.26. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 0.74. The stock’s 50-day simple moving average is $485.69 and its two-hundred day simple moving average is $443.98.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.26% and a net margin of 9.36%. The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 36.74 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $3.00 dividend. The ex-dividend date is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Analyst Ratings Changes

A number of analysts recently commented on GS shares. Barclays increased their price objective on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. UBS Group increased their target price on The Goldman Sachs Group from $490.00 to $535.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Morgan Stanley increased their target price on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company increased their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $495.94.

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.