Whitener Capital Management Inc. Grows Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Whitener Capital Management Inc. lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,104 shares of the investment management company’s stock after buying an additional 1,006 shares during the period. The Goldman Sachs Group makes up 1.6% of Whitener Capital Management Inc.’s holdings, making the stock its 17th biggest position. Whitener Capital Management Inc.’s holdings in The Goldman Sachs Group were worth $4,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Tower View Investment Management & Research LLC acquired a new position in shares of The Goldman Sachs Group during the 4th quarter valued at about $27,000. Pacific Center for Financial Services acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $33,000. NewSquare Capital LLC raised its position in shares of The Goldman Sachs Group by 3,433.3% during the 1st quarter. NewSquare Capital LLC now owns 106 shares of the investment management company’s stock valued at $35,000 after buying an additional 103 shares during the period. Worth Asset Management LLC acquired a new position in The Goldman Sachs Group in the first quarter valued at approximately $33,000. Finally, Boulder Wealth Advisors LLC purchased a new position in The Goldman Sachs Group in the fourth quarter worth approximately $39,000. 69.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on GS shares. Societe Generale lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. BMO Capital Markets increased their target price on shares of The Goldman Sachs Group from $407.00 to $411.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. UBS Group upped their price objective on shares of The Goldman Sachs Group from $385.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Citigroup downgraded shares of The Goldman Sachs Group from a “buy” rating to a “neutral” rating and lifted their target price for the company from $370.00 to $400.00 in a report on Tuesday, July 25th. Finally, JPMorgan Chase & Co. decreased their price target on The Goldman Sachs Group from $415.00 to $398.00 in a research note on Friday, July 7th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $396.04.

Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 10,000 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $345.71, for a total transaction of $3,457,100.00. Following the sale, the chief executive officer now directly owns 128,982 shares in the company, valued at approximately $44,590,367.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Goldman Sachs Group news, CEO David M. Solomon sold 10,000 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $345.71, for a total value of $3,457,100.00. Following the sale, the chief executive officer now owns 128,982 shares of the company’s stock, valued at $44,590,367.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 1,145,486 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $11.73, for a total transaction of $13,436,550.78. Following the completion of the sale, the insider now owns 50,099,392 shares in the company, valued at $587,665,868.16. The disclosure for this sale can be found here. Insiders have sold 1,159,686 shares of company stock valued at $18,390,027 over the last quarter. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock traded down $3.78 during trading hours on Tuesday, reaching $339.54. 572,866 shares of the stock were exchanged, compared to its average volume of 2,452,187. The Goldman Sachs Group, Inc. has a 52-week low of $287.75 and a 52-week high of $389.58. The stock has a market cap of $111.94 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.34 and a beta of 1.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50 day moving average is $335.98 and its 200 day moving average is $330.61.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 19th. The investment management company reported $3.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.25 by ($0.17). The Goldman Sachs Group had a return on equity of 8.27% and a net margin of 9.74%. The firm had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.61 billion. During the same period in the prior year, the company earned $7.73 earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. Analysts predict that The Goldman Sachs Group, Inc. will post 25.55 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, August 31st will be paid a $2.75 dividend. The ex-dividend date is Wednesday, August 30th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.50. This represents a $11.00 dividend on an annualized basis and a dividend yield of 3.24%. The Goldman Sachs Group’s payout ratio is 46.93%.

The Goldman Sachs Group Company 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 resale agreements.