Thrive Wealth Management LLC Sells 36 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Thrive Wealth Management LLC trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 619 shares of the investment management company’s stock after selling 36 shares during the quarter. Thrive Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $280,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. First Personal Financial Services acquired a new position in The Goldman Sachs Group during the 1st quarter valued at about $25,000. Versant Capital Management Inc grew its stake in The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 34 shares during the last quarter. First United Bank & Trust purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at about $26,000. Pineridge Advisors LLC purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at about $29,000. Finally, LifeSteps Financial Inc. purchased a new stake in The Goldman Sachs Group during the 1st quarter valued at about $33,000. 71.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Brian J. Lee sold 3,500 shares of the firm’s 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 transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now owns 12,450 shares of the company’s stock, valued at $6,287,748. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,013,500 shares of company stock worth $32,181,365. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GS. Evercore ISI boosted their price target on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. BMO Capital Markets upped their target price on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Morgan Stanley increased their price target 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, Oppenheimer increased their price target on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $495.94.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded up $4.49 during midday trading on Friday, hitting $490.26. The company had a trading volume of 1,622,719 shares, compared to its average volume of 2,355,641. The Goldman Sachs Group, Inc. has a twelve month low of $289.36 and a twelve month 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 has a market cap of $158.09 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37. The business’s 50-day simple moving average is $471.16 and its 200-day simple moving average is $432.08.

The Goldman Sachs Group (NYSE:GS) last posted 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 10.26% 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. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 36.74 earnings per share 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. Investors of record on Friday, August 30th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is 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 (DPR) is currently 46.86%.

The Goldman Sachs Group 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.