Orleans Capital Management Corp LA Cuts Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Orleans Capital Management Corp LA trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,747 shares of the investment management company’s stock after selling 195 shares during the period. The Goldman Sachs Group makes up approximately 2.2% of Orleans Capital Management Corp LA’s holdings, making the stock its 12th biggest holding. Orleans Capital Management Corp LA’s holdings in The Goldman Sachs Group were worth $3,504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GS. Capital World Investors lifted 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 valued at $2,319,470,000 after purchasing an additional 338,181 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of The Goldman Sachs Group by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 5,516,093 shares of the investment management company’s stock valued at $2,127,944,000 after acquiring an additional 150,532 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in The Goldman Sachs Group by 5.9% in 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 in the last quarter. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group during the first quarter worth approximately $1,903,374,000. Finally, Legal & General Group Plc raised its position in The Goldman Sachs Group by 2.9% during the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after purchasing an additional 77,700 shares during the period. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Down 0.7 %

GS opened at $495.11 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock’s fifty day moving average is $492.41 and its two-hundred day moving average is $459.74. The company has a market capitalization of $159.66 billion, a P/E ratio of 19.33, a PEG ratio of 0.78 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 52 week low of $289.36 and a 52 week high of $517.26.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, beating the consensus estimate of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. Analysts forecast that The Goldman Sachs Group, Inc. will post 35.43 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Insider Activity

In related news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 accessible through this link. In other news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the sale, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian J. Lee sold 3,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GS. Wells Fargo & Company lifted their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price objective on shares of 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. 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. Oppenheimer upped their price target on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.