Zacks Investment Management reduced its stake in Goldman Sachs Group Inc (NYSE:GS) by 97.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,098 shares of the investment management company’s stock after selling 38,058 shares during the quarter. Zacks Investment Management’s holdings in Goldman Sachs Group were worth $242,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. King Luther Capital Management Corp grew its position in shares of Goldman Sachs Group by 84.2% during the first quarter. King Luther Capital Management Corp now owns 2,394 shares of the investment management company’s stock valued at $603,000 after purchasing an additional 1,094 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Goldman Sachs Group by 31.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 14,504 shares of the investment management company’s stock valued at $3,653,000 after purchasing an additional 3,435 shares in the last quarter. Eagle Asset Management Inc. grew its position in shares of Goldman Sachs Group by 95.6% during the first quarter. Eagle Asset Management Inc. now owns 10,535 shares of the investment management company’s stock valued at $2,653,000 after purchasing an additional 5,149 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Goldman Sachs Group during the first quarter valued at about $5,162,000. Finally, Cortland Advisers LLC purchased a new position in shares of Goldman Sachs Group during the first quarter valued at about $37,678,000. Institutional investors and hedge funds own 70.96% of the company’s stock.

Shares of NYSE GS opened at $227.89 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.02. The stock has a market capitalization of $86.55 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.73 and a beta of 1.28. Goldman Sachs Group Inc has a 1 year low of $218.89 and a 1 year high of $275.31.

Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 17th. The investment management company reported $5.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.66 by $1.32. The business had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $8.74 billion. Goldman Sachs Group had a net margin of 15.72% and a return on equity of 13.58%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.95 earnings per share. sell-side analysts predict that Goldman Sachs Group Inc will post 24.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, August 30th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, August 29th. Goldman Sachs Group’s payout ratio is currently 16.19%.

In other Goldman Sachs Group news, insider David M. Solomon sold 8,488 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $237.92, for a total value of $2,019,464.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David M. Solomon sold 8,382 shares of Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $232.08, for a total transaction of $1,945,294.56. The disclosure for this sale can be found here. 1.71% of the stock is owned by company insiders.

GS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. restated a “buy” rating and set a $285.00 price objective on shares of Goldman Sachs Group in a research report on Monday, September 10th. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $259.00 price objective for the company in a research report on Friday, July 20th. Societe Generale upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Keefe, Bruyette & Woods dropped their price target on Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating for the company in a research report on Wednesday, July 18th. Finally, Oppenheimer lifted their price target on Goldman Sachs Group from $304.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Goldman Sachs Group currently has a consensus rating of “Hold” and an average target price of $273.69.

About Goldman Sachs Group

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through 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.

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

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