Mirabaud & Cie SA Decreases Stock Holdings in The Goldman Sachs Group, Inc. $GS

by · The Cerbat Gem

Mirabaud & Cie SA lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 27.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,430 shares of the investment management company’s stock after selling 1,301 shares during the quarter. The Goldman Sachs Group comprises 0.8% of Mirabaud & Cie SA’s portfolio, making the stock its 27th largest position. Mirabaud & Cie SA’s holdings in The Goldman Sachs Group were worth $2,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Canada Pension Plan Investment Board lifted its stake in shares of The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock worth $286,418,000 after buying an additional 116,535 shares in the last quarter. Clear Creek Financial Management LLC bought a new position in The Goldman Sachs Group during the first quarter valued at $321,000. Blueshift Asset Management LLC lifted its holdings in The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock valued at $576,000 after buying an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. increased its position in The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock valued at $27,205,000 after purchasing an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC acquired a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $1,643,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GS. Citigroup boosted their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. HSBC reaffirmed a “reduce” rating and issued a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a “market perform” rating in a research report on Thursday, July 17th. Zacks Research raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 15th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $660.00.

Get Our Latest Research Report on GS

Insider Transactions at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO John E. Waldron sold 9,244 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at $86,463,679.48. The trade was a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,323 shares of company stock worth $28,111,828. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Trading Down 0.5%

NYSE:GS opened at $780.87 on Monday. The company has a market capitalization of $236.38 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $793.17. The stock has a fifty day simple moving average of $728.85 and a 200-day simple moving average of $631.75.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm had revenue of $14.58 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the business posted $8.62 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio is 35.26%.

About The Goldman Sachs Group

(Free Report)

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.

See Also

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