Sovran Advisors LLC Grows Stock Position in The Goldman Sachs Group, Inc. $GS

Sovran Advisors LLC increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 679.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,891 shares of the investment management company’s stock after acquiring an additional 2,520 shares during the period. Sovran Advisors LLC’s holdings in The Goldman Sachs Group were worth $2,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Acropolis Investment Management LLC boosted its stake in shares of The Goldman Sachs Group by 1.8% during the fourth quarter. Acropolis Investment Management LLC now owns 630 shares of the investment management company’s stock valued at $554,000 after purchasing an additional 11 shares during the period. Walkner Condon Financial Advisors LLC increased its stake in shares of The Goldman Sachs Group by 2.0% in the fourth quarter. Walkner Condon Financial Advisors LLC now owns 574 shares of the investment management company’s stock worth $505,000 after buying an additional 11 shares during the period. Optas LLC increased its stake in shares of The Goldman Sachs Group by 0.4% in the fourth quarter. Optas LLC now owns 2,553 shares of the investment management company’s stock worth $2,244,000 after buying an additional 11 shares during the period. Pines Wealth Management LLC raised its holdings in The Goldman Sachs Group by 0.4% during the 4th quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock valued at $2,255,000 after buying an additional 11 shares during the last quarter. Finally, Welch & Forbes LLC raised its holdings in The Goldman Sachs Group by 0.8% during the 4th quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock valued at $1,257,000 after buying an additional 11 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group News Summary

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

The Goldman Sachs Group Trading Up 0.0%

The Goldman Sachs Group stock traded up $0.07 during mid-day trading on Friday, reaching $1,056.04. 1,110,031 shares of the company traded hands, compared to its average volume of 1,972,365. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63. The firm’s 50 day moving average price is $1,017.99 and its 200 day moving average price is $938.64. The firm has a market capitalization of $311.54 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.35 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 52-week low of $691.30 and a 52-week high of $1,125.00.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, April 13th. The investment management company reported $17.55 EPS for the quarter, topping the consensus estimate of $15.92 by $1.63. The firm had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company posted $14.12 EPS. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 60.44 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 1st were paid a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio is presently 32.89%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GS. Daiwa Securities Group raised their price target on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. HSBC boosted their price target on The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. Finally, Jefferies Financial Group lowered their price target on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $986.91.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Alex S. Golten sold 1,116 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the sale, the insider directly owned 2,578 shares of the company’s stock, valued at approximately $2,413,472.04. The trade was a 30.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the transaction, the insider owned 15,657 shares in the company, valued at $14,703,018.99. This trade represents a 47.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 33,681 shares of company stock valued at $31,737,875. 0.55% of the stock is currently owned by corporate insiders.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.