The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.0% during the 2nd quarter, Holdings Channel reports. The fund owned 42,526 shares of the investment management company’s stock after selling 21 shares during the quarter. The Goldman Sachs Group makes up approximately 1.1% of Highland Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. Highland Capital Management LLC’s holdings in The Goldman Sachs Group were worth $19,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of GS. Atria Wealth Solutions Inc. raised its stake in The Goldman Sachs Group by 7.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 12,004 shares of the investment management company’s stock valued at $4,631,000 after buying an additional 788 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of The Goldman Sachs Group by 5.2% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,366 shares of the investment management company’s stock worth $2,842,000 after purchasing an additional 364 shares during the last quarter. Bailard Inc. purchased a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $212,000. Lyell Wealth Management LP purchased a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $209,000. Finally, First Fiduciary Investment Counsel Inc. purchased a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $5,159,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $461.00 to $464.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Morgan Stanley raised their price target on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Barclays raised their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Finally, Evercore ISI lifted their price objective 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. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $495.94.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded up $11.67 during trading on Friday, hitting $509.42. 1,751,832 shares of the company were exchanged, compared to its average volume of 2,301,381. The firm has a 50 day moving average price of $480.38 and a 200 day moving average price of $440.53. The company has a quick ratio of 0.74, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $164.27 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 0.99 and a beta of 1.37. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.26.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating the consensus estimate of $8.52 by $0.10. The company had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.26% and a net margin of 9.36%. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 36.74 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $3.00 dividend. The ex-dividend date is Friday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 2.36%. The Goldman Sachs Group’s payout ratio is 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the completion of the sale, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The disclosure for this sale can be found here. In the last three months, insiders sold 4,013,500 shares of company stock worth $32,181,365. Insiders own 0.54% of the company’s stock.

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.