Hourglass Capital LLC Has $8.93 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Hourglass Capital LLC lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,736 shares of the investment management company’s stock after selling 1,097 shares during the quarter. The Goldman Sachs Group comprises approximately 2.7% of Hourglass Capital LLC’s portfolio, making the stock its 4th largest holding. Hourglass Capital LLC’s holdings in The Goldman Sachs Group were worth $8,927,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Aveo Capital Partners LLC grew its stake in The Goldman Sachs Group by 8.2% in the 4th quarter. Aveo Capital Partners LLC now owns 697 shares of the investment management company’s stock worth $269,000 after buying an additional 53 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 14.7% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,934 shares of the investment management company’s stock worth $746,000 after acquiring an additional 248 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in shares of The Goldman Sachs Group by 7.8% during the 4th quarter. Wealthspire Advisors LLC now owns 1,362 shares of the investment management company’s stock worth $525,000 after acquiring an additional 99 shares during the last quarter. First Western Trust Bank increased its stake in The Goldman Sachs Group by 50.7% in the fourth quarter. First Western Trust Bank now owns 1,502 shares of the investment management company’s stock valued at $579,000 after acquiring an additional 505 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at about $1,282,000. Institutional investors own 71.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GS shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Barclays increased their price objective on 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. Evercore ISI increased their price objective on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer increased their price objective on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a research report 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $495.94.

Insider Activity

In other news, insider Brian J. Lee sold 3,500 shares of the firm’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 completion of the transaction, the insider now owns 12,095 shares in the company, valued at approximately $6,119,949.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Goldman Sachs Group news, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction on 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 completion of the transaction, the director now owns 12,450 shares in the company, valued at $6,287,748. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,770,965.00. Following the transaction, 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. Insiders sold a total of 4,013,500 shares of company stock worth $32,181,365 in the last quarter. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $491.39 on Friday. The firm has a market cap of $158.46 billion, a P/E ratio of 19.05, a P/E/G ratio of 0.79 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 business’s 50 day moving average price is $488.78 and its 200-day moving average price is $447.10. 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 Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The firm 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%. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 35.07 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Friday, August 30th. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

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.