Legacy Capital Group California Inc. Has $306,000 Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Legacy Capital Group California Inc. reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 20.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 677 shares of the investment management company’s stock after selling 175 shares during the period. Legacy Capital Group California Inc.’s holdings in The Goldman Sachs Group were worth $306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Focus Financial Network Inc. increased its position in The Goldman Sachs Group by 1.3% in the 2nd quarter. Focus Financial Network Inc. now owns 2,048 shares of the investment management company’s stock valued at $1,028,000 after buying an additional 26 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of The Goldman Sachs Group during the second quarter worth approximately $1,087,000. Sanibel Captiva Trust Company Inc. lifted its holdings in shares of The Goldman Sachs Group by 20.8% in the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 14,942 shares of the investment management company’s stock worth $6,759,000 after purchasing an additional 2,568 shares in the last quarter. BigSur Wealth Management LLC grew its position in The Goldman Sachs Group by 96.2% in the 2nd quarter. BigSur Wealth Management LLC now owns 7,180 shares of the investment management company’s stock valued at $3,248,000 after purchasing an additional 3,520 shares during the period. Finally, SeaCrest Wealth Management LLC increased its stake in The Goldman Sachs Group by 2.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 1,829 shares of the investment management company’s stock valued at $827,000 after purchasing an additional 44 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Performance

NYSE GS traded down $1.94 on Wednesday, hitting $495.40. 602,881 shares of the stock traded hands, compared to its average volume of 2,311,097. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.74 and a current ratio of 1.12. The firm has a market capitalization of $159.75 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 0.99 and a beta of 1.37. The Goldman Sachs Group, Inc. has a 12 month low of $289.36 and a 12 month high of $517.26. The business’s fifty day moving average is $477.13 and its two-hundred day moving average is $438.07.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data 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 business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.26%. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 36.74 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $3.00 per share. This is a boost 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 dividend on an annualized basis and a yield of 2.42%. The Goldman Sachs Group’s payout ratio is presently 46.86%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group 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 can be accessed through this link. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction 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 directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. Insiders have sold a total of 4,013,500 shares of company stock worth $32,181,365 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Oppenheimer boosted their price objective on The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Evercore ISI raised their target price on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Wells Fargo & Company upped their price target 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. Finally, UBS Group raised their price objective on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $495.94.

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.