Goldman Sachs Group, Inc. (The) (GS) Shares Sold by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. reduced its position in shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) by 19.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,507 shares of the investment management company’s stock after selling 357 shares during the period. Beech Hill Advisors Inc.’s holdings in Goldman Sachs Group, Inc. (The) were worth $334,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Diversified Trust Co purchased a new stake in Goldman Sachs Group, Inc. (The) during the second quarter valued at about $1,052,000. Culbertson A N & Co. Inc. raised its stake in Goldman Sachs Group, Inc. (The) by 1.4% in the second quarter. Culbertson A N & Co. Inc. now owns 29,205 shares of the investment management company’s stock valued at $6,481,000 after buying an additional 401 shares in the last quarter. Main Street Research LLC raised its stake in Goldman Sachs Group, Inc. (The) by 6.2% in the second quarter. Main Street Research LLC now owns 39,706 shares of the investment management company’s stock valued at $8,811,000 after buying an additional 2,305 shares in the last quarter. North Star Investment Management Corp. raised its stake in Goldman Sachs Group, Inc. (The) by 24.0% in the second quarter. North Star Investment Management Corp. now owns 3,592 shares of the investment management company’s stock valued at $797,000 after buying an additional 696 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Goldman Sachs Group, Inc. (The) by 4.3% in the second quarter. Nisa Investment Advisors LLC now owns 113,927 shares of the investment management company’s stock valued at $25,076,000 after buying an additional 4,712 shares in the last quarter. 73.72% of the stock is currently owned by institutional investors.

Shares of Goldman Sachs Group, Inc. (NYSE GS) opened at 224.15 on Friday. Goldman Sachs Group, Inc. has a one year low of $157.77 and a one year high of $255.15. The firm has a market cap of $87.02 billion, a price-to-earnings ratio of 11.75 and a beta of 1.42. The stock’s 50 day moving average price is $225.05 and its 200 day moving average price is $229.72.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 18th. The investment management company reported $3.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.39 by $0.56. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.47 billion. Goldman Sachs Group, Inc. (The) had a net margin of 26.44% and a return on equity of 11.27%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.72 earnings per share. On average, equities analysts anticipate that Goldman Sachs Group, Inc. will post $18.20 earnings per share for the current fiscal year.

Goldman Sachs Group, Inc. (The) announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 18th that authorizes the company to repurchase 50,000,000 outstanding shares. This repurchase authorization authorizes the investment management company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, August 31st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.34%. Goldman Sachs Group, Inc. (The)’s dividend payout ratio (DPR) is presently 15.74%.

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Several equities research analysts have weighed in on GS shares. UBS AG reaffirmed a “buy” rating and issued a $285.00 target price on shares of Goldman Sachs Group, Inc. (The) in a research report on Wednesday, April 19th. Keefe, Bruyette & Woods set a $260.00 target price on Goldman Sachs Group, Inc. (The) and gave the stock a “buy” rating in a research report on Saturday, May 6th. BidaskClub raised Goldman Sachs Group, Inc. (The) from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. HSBC Holdings plc lowered Goldman Sachs Group, Inc. (The) from a “buy” rating to a “hold” rating and increased their target price for the stock from $223.80 to $250.00 in a research report on Friday. Finally, Wells Fargo & Company started coverage on Goldman Sachs Group, Inc. (The) in a research report on Wednesday. They issued an “outperform” rating and a $265.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Goldman Sachs Group, Inc. (The) presently has a consensus rating of “Hold” and an average target price of $235.44.

In other news, EVP John F.W. Rogers sold 17,685 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $235.02, for a total transaction of $4,156,328.70. Following the sale, the executive vice president now owns 80,109 shares in the company, valued at $18,827,217.18. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David M. Solomon sold 3,260 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $231.59, for a total transaction of $754,983.40. Following the sale, the insider now owns 177,594 shares in the company, valued at approximately $41,128,994.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,535 shares of company stock worth $5,956,868. Corporate insiders own 2.57% of the company’s stock.

Goldman Sachs Group, Inc. (The) Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

Institutional Ownership by Quarter for Goldman Sachs Group, Inc. (The) (NYSE:GS)

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