AGF Management Ltd. Increases Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• AGF Management Ltd. increased its holdings in The Goldman Sachs Group by 16%, owning 19,188 shares valued at approximately $10.48 million as of the most recent reporting period.
• Goldman Sachs recently declared a quarterly dividend of $4.00, up from $3.00, representing an annualized dividend yield of 2.2%.
• The company reported strong quarterly earnings, with $10.91 EPS, exceeding analysts' estimates, and a revenue of $14.58 billion, marking a 14.5% year-over-year increase.

AGF Management Ltd. boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 16.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,188 shares of the investment management company's stock after acquiring an additional 2,644 shares during the period. AGF Management Ltd.'s holdings in The Goldman Sachs Group were worth $10,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after acquiring an additional 508 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after purchasing an additional 58 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new position in The Goldman Sachs Group in the fourth quarter worth $583,000. Highview Capital Management LLC DE lifted its position in shares of The Goldman Sachs Group by 4.7% during the 4th quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock valued at $2,186,000 after buying an additional 171 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of The Goldman Sachs Group by 41.3% during the 4th quarter. Covestor Ltd now owns 147 shares of the investment management company's stock valued at $85,000 after buying an additional 43 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the firm'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 transaction, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,079 shares of company stock worth $14,423,221. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock traded down $16.70 during midday trading on Friday, reaching $730.50. 1,645,323 shares of the stock traded hands, compared to its average volume of 1,885,910. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $749.05. 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 stock's fifty day moving average is $694.80 and its 200-day moving average is $617.85. The stock has a market cap of $221.14 billion, a P/E ratio of 16.10, a PEG ratio of 1.59 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the business posted $8.62 earnings per share. The company's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities 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 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 $4.00 dividend. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 26.44%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GS shares. JMP Securities reiterated a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $660.00.

About The Goldman Sachs Group

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.