APG Asset Management N.V. Raises Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• APG Asset Management N.V. increased its stake in The Goldman Sachs Group by 4.4%, acquiring an additional 13,588 shares during the first quarter, bringing its total ownership to approximately 0.10% of the company worth $162,434,000.
• The Goldman Sachs Group recently reported earnings of $10.91 per share for the quarter, exceeding analysts' expectations and reflecting a year-over-year revenue increase of 14.5%.
• The company declared a quarterly dividend of $4.00 per share, increasing from the previous dividend of $3.00, representing a 2.2% yield on an annualized basis.

APG Asset Management N.V. increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 321,187 shares of the investment management company's stock after acquiring an additional 13,588 shares during the quarter. APG Asset Management N.V. owned approximately 0.10% of The Goldman Sachs Group worth $162,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. King Wealth Management Group grew its holdings in shares of The Goldman Sachs Group by 1.8% during the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after buying an additional 19 shares in the last quarter. Wynn Capital LLC grew its holdings in shares of The Goldman Sachs Group by 0.3% during the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after buying an additional 20 shares in the last quarter. 1900 Wealth Management LLC grew its holdings in shares of The Goldman Sachs Group by 2.6% during the first quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after buying an additional 20 shares in the last quarter. Register Financial Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 2.5% during the first quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock worth $440,000 after buying an additional 20 shares in the last quarter. Finally, World Equity Group Inc. grew its holdings in shares of The Goldman Sachs Group by 0.9% during the first quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock worth $1,273,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Up 3.6%

Shares of NYSE:GS opened at $741.8440 on Friday. 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 Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $749.05. The firm's 50 day moving average price is $705.56 and its 200 day moving average price is $620.87. The stock has a market cap of $224.57 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.52 and a beta of 1.38.

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 for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $8.62 earnings per share. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

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

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of the 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 $13,469,493.60. This represents a 28.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was 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 in the company, valued at approximately $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. Insiders have sold a total of 20,079 shares of company stock valued at $14,423,221 in the last ninety days. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GS. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Citigroup upped 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 report on Monday, July 21st. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. One equities research 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 currently has an average rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group 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.

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