AlTi Global Inc. Sells 352 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• AlTi Global Inc. reduced its holdings in The Goldman Sachs Group by 2.8%, selling 352 shares and owning a total of 12,045 shares valued at $6.58 million as of the latest quarter.
• CEO David M. Solomon and CFO Denis P. Coleman each sold a significant number of shares, resulting in a 4.98% and 28.64% decrease in their respective stock positions.
• The Goldman Sachs Group is set to increase its quarterly dividend to $4.00 per share, reflecting a positive change from the previous $3.00 and providing a 2.2% dividend yield.

AlTi Global Inc. reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,045 shares of the investment management company's stock after selling 352 shares during the period. AlTi Global Inc.'s holdings in The Goldman Sachs Group were worth $6,580,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Alyeska Investment Group L.P. boosted its holdings in shares of The Goldman Sachs Group by 8.2% in the 1st quarter. Alyeska Investment Group L.P. now owns 38,306 shares of the investment management company's stock valued at $20,926,000 after buying an additional 2,919 shares in the last quarter. Amundi boosted its holdings in shares of The Goldman Sachs Group by 13.6% in the 1st quarter. Amundi now owns 1,891,260 shares of the investment management company's stock valued at $967,193,000 after buying an additional 225,993 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in shares of The Goldman Sachs Group by 21.0% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 53,518 shares of the investment management company's stock valued at $29,236,000 after buying an additional 9,290 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 18.7% in the 1st quarter. EP Wealth Advisors LLC now owns 6,757 shares of the investment management company's stock valued at $3,691,000 after buying an additional 1,064 shares in the last quarter. Finally, First Manhattan CO. LLC. boosted its stake in The Goldman Sachs Group by 212.8% in the 1st quarter. First Manhattan CO. LLC. now owns 11,503 shares of the investment management company's stock worth $6,284,000 after purchasing an additional 7,826 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $729.93 on Wednesday. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $753.33. The firm has a market cap of $220.97 billion, a PE ratio of 16.08, a PEG ratio of 1.58 and a beta of 1.41. The firm has a fifty day moving average of $720.29 and a 200 day moving average of $625.14. 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 (NYSE:GS - Get Free Report) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the firm earned $8.62 earnings per share. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is presently 35.26%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. HSBC reiterated a "reduce" rating and issued a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Citigroup lifted their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. 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 issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus 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.

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