Adage Capital Partners GP L.L.C. Sells 16,000 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Adage Capital Partners GP L.L.C. sold 16,000 shares of The Goldman Sachs Group, reducing its holdings by 5.6% to a total of 269,509 shares valued at approximately $147.23 million.
• The Goldman Sachs Group reported significant earnings for the last quarter, with $10.91 EPS and revenue of $14.58 billion, exceeding analysts' estimates.
• The company also announced an increase in its quarterly dividend from $3.00 to $4.00 per share, representing an annualized yield of 2.1% to be paid on September 29th.

Adage Capital Partners GP L.L.C. reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 269,509 shares of the investment management company's stock after selling 16,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of The Goldman Sachs Group worth $147,230,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. King Wealth Management Group boosted its stake in shares of The Goldman Sachs Group by 1.8% during the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after acquiring an additional 19 shares in the last quarter. Wynn Capital LLC boosted its stake in shares of The Goldman Sachs Group by 0.3% during the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after acquiring an additional 20 shares in the last quarter. 1900 Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 2.6% during the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after acquiring an additional 20 shares in the last quarter. Register Financial Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 2.5% during the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock worth $440,000 after acquiring an additional 20 shares in the last quarter. Finally, World Equity Group Inc. boosted its stake in shares of The Goldman Sachs Group by 0.9% during the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock worth $1,273,000 after acquiring an additional 20 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

Shares of GS traded down $9.79 during mid-day trading on Friday, reaching $739.11. The company had a trading volume of 1,822,071 shares, compared to its average volume of 1,535,654. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $223.74 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.59 and a beta of 1.41. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $757.35. The company's 50-day moving average is $723.63 and its 200-day moving average is $626.92.

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

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Insider Activity

In other news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 over the last three months. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GS shares. JMP Securities reiterated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Citigroup increased their target price 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. Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Morgan Stanley increased their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.