1832 Asset Management L.P. Trims Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• 1832 Asset Management L.P. has sold 324,488 shares of The Goldman Sachs Group, reducing its stake by 98.4%, leaving it with only 5,166 shares valued at approximately $2.82 million.
• The Goldman Sachs Group's latest quarterly earnings reported $10.91 earnings per share, surpassing analysts' expectations of $9.82, with revenue reaching $14.58 billion for the quarter.
• The company has announced a quarterly dividend of $4.00 per share, up from the previous $3.00, reflecting an annualized yield of 2.2% and a payout ratio of 26.44%.

1832 Asset Management L.P. cut its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 98.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,166 shares of the investment management company's stock after selling 324,488 shares during the quarter. 1832 Asset Management L.P.'s holdings in The Goldman Sachs Group were worth $2,822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GS. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group during the 1st quarter valued at $25,000. American Capital Advisory LLC bought a new stake in shares of The Goldman Sachs Group during the first quarter worth about $29,000. Godsey & Gibb Inc. lifted its stake in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $31,000. Finally, Lowe Wealth Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 326.7% in the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after acquiring an additional 49 shares during the period. 71.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David M. Solomon sold 6,608 shares of the business's 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 of the company's stock, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,079 shares of company stock valued at $14,423,221. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Up 0.1%

Shares of NYSE GS traded up $0.92 during mid-day trading on Wednesday, hitting $749.87. 1,534,747 shares of the stock traded hands, compared to its average volume of 1,726,042. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $753.00. The company has a market cap of $227.00 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.59 and a beta of 1.38. The stock has a fifty day moving average price of $712.55 and a 200-day moving average price of $622.80.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the company posted $8.62 earnings per share. The firm's revenue was up 14.5% on a year-over-year basis. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.1%. 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 presently 26.44%.

Analyst Ratings Changes

Several equities analysts have issued reports on GS shares. Citigroup boosted their price target on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. JMP Securities reissued a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Morgan Stanley lifted their price target on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $660.00.

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.