Axxcess Wealth Management LLC Reduces Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Axxcess Wealth Management LLC reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 21.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,387 shares of the investment management company’s stock after selling 2,626 shares during the period. Axxcess Wealth Management LLC’s holdings in The Goldman Sachs Group were worth $4,246,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital World Investors boosted its stake in The Goldman Sachs Group by 6.0% during the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after buying an additional 338,181 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 5,516,093 shares of the investment management company’s stock valued at $2,127,944,000 after purchasing an additional 150,532 shares during the period. Price T Rowe Associates Inc. MD increased its position in The Goldman Sachs Group by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after purchasing an additional 274,989 shares during the last quarter. Bank of New York Mellon Corp raised its stake in The Goldman Sachs Group by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 4,895,928 shares of the investment management company’s stock worth $2,044,980,000 after purchasing an additional 141,538 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group in the 1st quarter valued at about $1,903,374,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Thomas K. Montag sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the sale, the director now owns 12,450 shares of the company’s stock, valued at approximately $6,287,748. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

The Goldman Sachs Group Stock Up 0.0 %

Shares of NYSE GS opened at $485.39 on Wednesday. The stock has a market cap of $156.52 billion, a P/E ratio of 18.95, a PEG ratio of 0.73 and a beta of 1.36. The business’s fifty day simple moving average is $490.99 and its 200-day simple moving average is $452.97. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $517.26. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $12.00 dividend on an annualized basis and a yield of 2.47%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Analyst Ratings Changes

GS has been the topic of several analyst reports. UBS Group lifted their price target on shares of The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their price target on The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. Barclays upped their target price on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Morgan Stanley lifted their price target on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average price target of $496.44.

About The Goldman Sachs Group

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.