Whitener Capital Management Inc. Grows Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Whitener Capital Management Inc. raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,104 shares of the investment management company’s stock after buying an additional 1,006 shares during the quarter. The Goldman Sachs Group comprises 1.6% of Whitener Capital Management Inc.’s holdings, making the stock its 17th largest position. Whitener Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $4,227,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in The Goldman Sachs Group by 0.4% during the first quarter. Geode Capital Management LLC now owns 6,070,182 shares of the investment management company’s stock valued at $1,981,052,000 after acquiring an additional 22,635 shares in the last quarter. Morgan Stanley boosted its holdings in The Goldman Sachs Group by 40.0% during the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock worth $2,038,425,000 after buying an additional 1,696,350 shares in the last quarter. Fisher Asset Management LLC grew its position in The Goldman Sachs Group by 2.9% during the first quarter. Fisher Asset Management LLC now owns 5,044,608 shares of the investment management company’s stock valued at $1,650,142,000 after buying an additional 144,177 shares during the period. Bank of New York Mellon Corp increased its holdings in The Goldman Sachs Group by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 4,764,509 shares of the investment management company’s stock valued at $1,396,236,000 after buying an additional 52,016 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of The Goldman Sachs Group by 608.2% in the first quarter. Envestnet Asset Management Inc. now owns 2,390,752 shares of the investment management company’s stock worth $114,359,000 after acquiring an additional 2,053,162 shares during the period. Institutional investors and hedge funds own 69.06% of the company’s stock.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock traded down $3.78 during midday trading on Tuesday, hitting $339.54. 572,866 shares of the company’s stock were exchanged, compared to its average volume of 2,452,187. The Goldman Sachs Group, Inc. has a 12-month low of $287.75 and a 12-month high of $389.58. The stock has a market cap of $111.94 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.34 and a beta of 1.40. The firm’s 50 day simple moving average is $335.98 and its 200 day simple moving average is $330.61. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.81 and a current ratio of 0.81.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, July 19th. The investment management company reported $3.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.25 by ($0.17). The Goldman Sachs Group had a return on equity of 8.27% and a net margin of 9.74%. The business had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.61 billion. During the same period last year, the company posted $7.73 earnings per share. The business’s quarterly revenue was down 8.1% on a year-over-year basis. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 25.55 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, August 31st will be issued a $2.75 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.50. The ex-dividend date is Wednesday, August 30th. This represents a $11.00 annualized dividend and a yield of 3.24%. The Goldman Sachs Group’s dividend payout ratio is 46.93%.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $356.28, for a total value of $1,496,376.00. Following the sale, the chief executive officer now owns 124,782 shares of the company’s stock, valued at $44,457,330.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David M. Solomon sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $356.28, for a total transaction of $1,496,376.00. Following the transaction, the chief executive officer now owns 124,782 shares of the company’s stock, valued at $44,457,330.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Solomon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $345.71, for a total transaction of $3,457,100.00. Following the sale, the chief executive officer now owns 128,982 shares in the company, valued at approximately $44,590,367.22. The disclosure for this sale can be found here. Insiders sold 1,159,686 shares of company stock valued at $18,390,027 in the last 90 days. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GS shares. Morgan Stanley reissued an “equal weight” rating and issued a $347.00 price target (up previously from $337.00) on shares of The Goldman Sachs Group in a research note on Friday, July 21st. HSBC began coverage on shares of The Goldman Sachs Group in a report on Thursday, September 7th. They set a “buy” rating and a $403.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of The Goldman Sachs Group from $415.00 to $398.00 in a research note on Friday, July 7th. UBS Group upped their price objective on shares of The Goldman Sachs Group from $385.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, July 24th. Finally, Citigroup lowered The Goldman Sachs Group from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $370.00 to $400.00 in a report on Tuesday, July 25th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus price target of $396.04.

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 resale agreements.