Tower Wealth Partners Inc. Sells 84 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Tower Wealth Partners Inc. lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,049 shares of the investment management company’s stock after selling 84 shares during the quarter. Tower Wealth Partners Inc.’s holdings in The Goldman Sachs Group were worth $474,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Aveo Capital Partners LLC increased its position in The Goldman Sachs Group by 8.2% during the 4th quarter. Aveo Capital Partners LLC now owns 697 shares of the investment management company’s stock valued at $269,000 after purchasing an additional 53 shares during the period. Financial Advocates Investment Management increased its holdings in The Goldman Sachs Group by 7.3% during the fourth quarter. Financial Advocates Investment Management now owns 1,918 shares of the investment management company’s stock valued at $740,000 after buying an additional 130 shares during the period. Clearbridge Investments LLC raised its stake in The Goldman Sachs Group by 1.1% in the fourth quarter. Clearbridge Investments LLC now owns 189,162 shares of the investment management company’s stock worth $72,973,000 after buying an additional 1,998 shares in the last quarter. Sachetta LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter worth $55,000. Finally, L.M. Kohn & Company lifted its holdings in The Goldman Sachs Group by 6.6% during the fourth quarter. L.M. Kohn & Company now owns 1,893 shares of the investment management company’s stock worth $730,000 after buying an additional 117 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GS. Barclays lifted their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. UBS Group lifted their target price on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. BMO Capital Markets lifted their price objective on shares of 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. Finally, Oppenheimer boosted their price objective on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $496.44.

The Goldman Sachs Group Stock Up 1.3 %

The Goldman Sachs Group stock opened at $485.16 on Tuesday. The business’s 50-day simple moving average is $490.74 and its two-hundred day simple moving average is $452.29. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $156.45 billion, a PE ratio of 18.94, a PEG ratio of 0.73 and a beta of 1.36. 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 released its earnings results on Monday, July 15th. The investment management company reported $8.62 EPS for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.60 billion. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 35.5 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $3.00 dividend. 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 dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is 46.86%.

Insider Transactions at The Goldman Sachs Group

In related news, Director Thomas K. Montag sold 10,000 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 12,450 shares in the company, valued at $6,287,748. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the company’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 in the company, valued at approximately $6,119,949.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 transaction, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

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 financing under securities to resale agreements.