Canandaigua National Corp Has $2.69 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Canandaigua National Corp reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GSGet Rating) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,050 shares of the investment management company’s stock after selling 563 shares during the period. Canandaigua National Corp’s holdings in The Goldman Sachs Group were worth $2,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GS. Eagle Asset Management Inc. bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $1,198,000. KRS Capital Management LLC acquired a new stake in The Goldman Sachs Group in the fourth quarter worth $203,000. American International Group Inc. raised its holdings in The Goldman Sachs Group by 3.2% in the fourth quarter. American International Group Inc. now owns 100,024 shares of the investment management company’s stock worth $38,264,000 after purchasing an additional 3,113 shares during the period. Invesco Ltd. raised its holdings in The Goldman Sachs Group by 7.4% in the fourth quarter. Invesco Ltd. now owns 2,765,824 shares of the investment management company’s stock worth $1,058,064,000 after purchasing an additional 189,413 shares during the period. Finally, Nan Shan Life Insurance Co. Ltd. raised its holdings in The Goldman Sachs Group by 57.8% in the fourth quarter. Nan Shan Life Insurance Co. Ltd. now owns 82,524 shares of the investment management company’s stock worth $31,570,000 after purchasing an additional 30,230 shares during the period. 69.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Treasurer Philip R. Berlinski sold 8,000 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $348.62, for a total transaction of $2,788,960.00. Following the completion of the sale, the treasurer now owns 13,745 shares of the company’s stock, valued at approximately $4,791,781.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Treasurer Philip R. Berlinski sold 8,000 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $348.62, for a total transaction of $2,788,960.00. Following the completion of the sale, the treasurer now owns 13,745 shares of the company’s stock, valued at approximately $4,791,781.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Goldman Sachs Group Inc sold 78,131 shares of The Goldman Sachs Group stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $27.01, for a total transaction of $2,110,318.31. Following the sale, the director now directly owns 439,180 shares of the company’s stock, valued at approximately $11,862,251.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 793,689 shares of company stock valued at $23,413,742. Company insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $326.21 on Monday. The firm has a 50-day moving average of $330.35 and a 200-day moving average of $320.84. The Goldman Sachs Group, Inc. has a one year low of $277.84 and a one year high of $426.16. The company has a market cap of $111.35 billion, a PE ratio of 7.38, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.87 and a quick ratio of 0.87.

The Goldman Sachs Group (NYSE:GSGet Rating) last announced its quarterly earnings data on Monday, July 18th. The investment management company reported $7.73 EPS for the quarter, beating analysts’ consensus estimates of $6.61 by $1.12. The Goldman Sachs Group had a net margin of 27.75% and a return on equity of 15.89%. The company had revenue of $11.86 billion during the quarter, compared to the consensus estimate of $10.70 billion. During the same quarter last year, the firm posted $15.02 EPS. The company’s quarterly revenue was down 22.9% on a year-over-year basis. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 34.18 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, August 10th. Investors of record on Tuesday, July 26th were issued a dividend of $2.50 per share. The ex-dividend date was Monday, July 25th. The Goldman Sachs Group’s payout ratio is 22.61%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GS shares. Odeon Capital Group lowered shares of The Goldman Sachs Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. Barclays dropped their price objective on shares of The Goldman Sachs Group from $505.00 to $450.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Wells Fargo & Company dropped their price objective on shares of The Goldman Sachs Group from $420.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of The Goldman Sachs Group from $430.00 to $370.00 and set a “hold” rating on the stock in a report on Monday, September 12th. Finally, Citigroup dropped their price objective on shares of The Goldman Sachs Group from $400.00 to $360.00 in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $410.79.

The Goldman Sachs Group Profile

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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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.

Further Reading

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

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