Janney Montgomery Scott LLC Trims Holdings in Goldman Sachs Group Inc (NYSE:GS)

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Janney Montgomery Scott LLC reduced its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 9.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 30,452 shares of the investment management company’s stock after selling 3,299 shares during the period. Janney Montgomery Scott LLC’s holdings in Goldman Sachs Group were worth $6,231,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. KCS Wealth Advisory raised its position in shares of Goldman Sachs Group by 6.7% during the 2nd quarter. KCS Wealth Advisory now owns 5,783 shares of the investment management company’s stock valued at $1,183,000 after acquiring an additional 365 shares in the last quarter. Segment Wealth Management LLC raised its position in shares of Goldman Sachs Group by 0.7% during the 2nd quarter. Segment Wealth Management LLC now owns 18,799 shares of the investment management company’s stock valued at $3,846,000 after acquiring an additional 138 shares in the last quarter. Blume Capital Management Inc. raised its position in shares of Goldman Sachs Group by 3.3% during the 2nd quarter. Blume Capital Management Inc. now owns 25,650 shares of the investment management company’s stock valued at $5,248,000 after acquiring an additional 810 shares in the last quarter. Moloney Securities Asset Management LLC raised its position in shares of Goldman Sachs Group by 5.5% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 1,667 shares of the investment management company’s stock valued at $341,000 after acquiring an additional 87 shares in the last quarter. Finally, LeJeune Puetz Investment Counsel LLC raised its position in shares of Goldman Sachs Group by 5.3% during the 2nd quarter. LeJeune Puetz Investment Counsel LLC now owns 3,950 shares of the investment management company’s stock valued at $808,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 69.54% of the company’s stock.

In other news, EVP Dane E. Holmes sold 3,165 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $212.15, for a total value of $671,454.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.41% of the company’s stock.

Several equities research analysts have weighed in on GS shares. Royal Bank of Canada reaffirmed a “neutral” rating and issued a $220.00 target price on shares of Goldman Sachs Group in a research report on Tuesday, July 16th. TheStreet raised Goldman Sachs Group from a “c+” rating to a “b” rating in a research report on Tuesday, August 6th. BMO Capital Markets increased their target price on Goldman Sachs Group to $273.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Morgan Stanley increased their target price on Goldman Sachs Group from $207.00 to $218.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Odeon Capital Group raised Goldman Sachs Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $240.92.

NYSE GS traded up $3.72 during trading hours on Tuesday, hitting $205.24. The company had a trading volume of 50,673 shares, compared to its average volume of 2,548,017. Goldman Sachs Group Inc has a fifty-two week low of $151.70 and a fifty-two week high of $245.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.78. The business has a fifty day moving average of $209.86. The company has a market cap of $74.39 billion, a price-to-earnings ratio of 8.09, a P/E/G ratio of 0.76 and a beta of 1.32.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, July 16th. The investment management company reported $5.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.73 by $1.08. Goldman Sachs Group had a return on equity of 12.43% and a net margin of 22.09%. The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same quarter in the prior year, the business posted $5.98 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts expect that Goldman Sachs Group Inc will post 22.81 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $1.25 dividend. This is a boost from Goldman Sachs Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $5.00 annualized dividend and a dividend yield of 2.44%. Goldman Sachs Group’s dividend payout ratio is presently 13.45%.

About Goldman Sachs Group

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

Further Reading: What does it mean to hold a stock in street name?

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Institutional Ownership by Quarter for Goldman Sachs Group (NYSE:GS)

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