The North Star Asset Management Inc. Cuts Stake in Goldman Sachs Group Inc. (GS)

The North Star Asset Management Inc. Cuts Stake in Goldman Sachs Group Inc. (GS)

North Star Asset Management Inc. decreased its position in Goldman Sachs Group Inc. (NYSE:GS) by 27.5% during the second quarter, Holdings Channel reports. The firm owned 4,945 shares of the investment management company’s stock after selling 1,880 shares during the period. North Star Asset Management Inc.’s holdings in Goldman Sachs Group were worth $735,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in shares of Goldman Sachs Group by 53.3% in the first quarter. Bessemer Group Inc. now owns 4,510 shares of the investment management company’s stock valued at $708,000 after buying an additional 1,568 shares during the last quarter. BB&T Securities LLC raised its position in shares of Goldman Sachs Group by 54.2% in the first quarter. BB&T Securities LLC now owns 20,091 shares of the investment management company’s stock valued at $3,153,000 after buying an additional 7,062 shares during the last quarter. Kiltearn Partners LLP raised its position in shares of Goldman Sachs Group by 35.7% in the first quarter. Kiltearn Partners LLP now owns 1,402,853 shares of the investment management company’s stock valued at $220,220,000 after buying an additional 369,000 shares during the last quarter. Pegasus Partners Ltd. acquired a new position in shares of Goldman Sachs Group during the first quarter valued at about $712,000. Finally, Gardner Lewis Asset Management L P raised its position in shares of Goldman Sachs Group by 11.7% in the first quarter. Gardner Lewis Asset Management L P now owns 15,610 shares of the investment management company’s stock valued at $2,450,000 after buying an additional 1,635 shares during the last quarter. Hedge funds and other institutional investors own 71.33% of the company’s stock.

Shares of Goldman Sachs Group Inc. (NYSE:GS) traded down 0.35% during mid-day trading on Monday, reaching $169.92. The company’s stock had a trading volume of 1,077,220 shares. The company has a market cap of $72.45 billion, a P/E ratio of 16.11 and a beta of 1.61. Goldman Sachs Group Inc. has a 12 month low of $138.20 and a 12 month high of $199.90. The company has a 50-day moving average of $166.91 and a 200-day moving average of $159.81.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, July 19th. The investment management company reported $3.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.00 by $0.72. Goldman Sachs Group had a net margin of 18.12% and a return on equity of 8.83%. The business earned $7.93 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period last year, the business posted $1.98 earnings per share. Equities research analysts forecast that Goldman Sachs Group Inc. will post $14.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 1st were issued a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.60 annualized dividend and a yield of 1.52%. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 24.60%.

Several equities analysts have recently issued reports on GS shares. Vetr lowered Goldman Sachs Group from a “hold” rating to a “strong sell” rating and set a $121.96 price target on the stock. in a research note on Tuesday, June 21st. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research note on Monday, June 27th. JPMorgan Chase & Co. set a $163.00 price target on Goldman Sachs Group and gave the company a “buy” rating in a research note on Monday, June 27th. Deutsche Bank AG reiterated a “hold” rating on shares of Goldman Sachs Group in a research note on Sunday, June 26th. Finally, Royal Bank Of Canada set a $145.00 price target on Goldman Sachs Group and gave the company a “neutral” rating in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $179.91.

In other Goldman Sachs Group news, insider Sarah G. Smith sold 2,664 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total transaction of $452,880.00. Following the completion of the transaction, the insider now owns 13,075 shares of the company’s stock, valued at $2,222,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edith W. Cooper sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $166.11, for a total transaction of $2,325,540.00. Following the transaction, the executive vice president now directly owns 33,634 shares of the company’s stock, valued at approximately $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is currently owned by company insiders.

About Goldman Sachs Group

The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.

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