Mystic Asset Management Inc. Sells 52 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Mystic Asset Management Inc. trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,927 shares of the investment management company’s stock after selling 52 shares during the quarter. Mystic Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $2,229,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. First Personal Financial Services bought a new position in shares of The Goldman Sachs Group in the 1st quarter valued at $25,000. POM Investment Strategies LLC acquired a new stake in The Goldman Sachs Group in the second quarter valued at about $26,000. Headlands Technologies LLC bought a new position in The Goldman Sachs Group in the second quarter valued at about $27,000. Versant Capital Management Inc raised its stake in The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after acquiring an additional 34 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 1.0 %

Shares of NYSE GS opened at $478.99 on Friday. The company’s 50 day moving average price is $490.33 and its 200-day moving average price is $451.20. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The Goldman Sachs Group, Inc. has a 52-week low of $289.36 and a 52-week high of $517.26. The company has a market capitalization of $154.46 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.52 by $0.10. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 35.5 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $3.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date is Friday, August 30th. This represents a $12.00 annualized dividend and a dividend yield of 2.51%. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly 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 SEC, which is available through this link. In other news, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were 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 directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GS has been the topic of several research reports. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Evercore ISI upped their price target on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods increased their price target on 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. Barclays boosted their price objective on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. increased their target price on The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $496.44.

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.