Meyer Handelman Co. Has $9,875,000 Position in Goldman Sachs Group, Inc. (The) (NYSE:GS)

Meyer Handelman Co. maintained its stake in Goldman Sachs Group, Inc. (The) (NYSE:GS) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 44,500 shares of the investment management company’s stock at the end of the second quarter. Meyer Handelman Co.’s holdings in Goldman Sachs Group, Inc. (The) were worth $9,875,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in Goldman Sachs Group, Inc. (The) by 10.7% in the first quarter. Parallel Advisors LLC now owns 558 shares of the investment management company’s stock worth $126,000 after buying an additional 54 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in shares of Goldman Sachs Group, Inc. (The) by 0.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 640 shares of the investment management company’s stock worth $144,000 after buying an additional 2 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Goldman Sachs Group, Inc. (The) during the first quarter worth approximately $161,000. Vident Investment Advisory LLC acquired a new position in shares of Goldman Sachs Group, Inc. (The) during the first quarter worth approximately $392,000. Finally, Quadrant Capital Group LLC increased its position in shares of Goldman Sachs Group, Inc. (The) by 11.5% in the first quarter. Quadrant Capital Group LLC now owns 875 shares of the investment management company’s stock worth $192,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 74.66% of the company’s stock.

Shares of Goldman Sachs Group, Inc. (NYSE GS) opened at 222.15 on Friday. The firm’s 50 day moving average is $225.59 and its 200-day moving average is $229.32. Goldman Sachs Group, Inc. has a 52-week low of $157.77 and a 52-week high of $255.15. The company has a market capitalization of $86.24 billion, a P/E ratio of 11.65 and a beta of 1.42.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last released its earnings results on Tuesday, July 18th. The investment management company reported $3.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.39 by $0.56. Goldman Sachs Group, Inc. (The) had a net margin of 26.44% and a return on equity of 11.27%. The company had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.47 billion. During the same period in the prior year, the company posted $3.72 EPS. The company’s revenue was down .6% compared to the same quarter last year. Equities research analysts anticipate that Goldman Sachs Group, Inc. will post $18.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.35%. Goldman Sachs Group, Inc. (The)’s payout ratio is presently 15.74%.

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GS has been the topic of a number of research reports. Deutsche Bank AG reissued a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a research note on Monday, July 3rd. Capital One Financial Corporation reaffirmed a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a report on Tuesday, July 11th. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $260.00 price target on shares of Goldman Sachs Group, Inc. (The) in a report on Monday, June 26th. Buckingham Research reaffirmed a “neutral” rating and set a $243.00 price target (up from $235.00) on shares of Goldman Sachs Group, Inc. (The) in a report on Monday, July 10th. Finally, UBS AG lowered shares of Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating and raised their price target for the company from $220.19 to $230.00 in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $235.44.

In related 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 value of $4,156,328.70. Following the sale, the executive vice president now directly owns 80,109 shares in the company, valued at approximately $18,827,217.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the insider now owns 177,594 shares in the company, valued at $41,128,994.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,535 shares of company stock worth $5,956,868. Corporate insiders own 2.57% of the company’s stock.

About Goldman Sachs Group, Inc. (The)

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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