Aragon Global Management LP Acquires 10,380 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Aragon Global Management LP increased its holdings in The Goldman Sachs Group by 384.4% in Q1, owning a total of 13,080 shares worth approximately $7.15 million.
• The Goldman Sachs Group recently raised its quarterly dividend to $4.00 per share, up from the previous $3.00, which reflects a 2.1% dividend yield.
• Goldman Sachs reported earnings of $10.91 per share, surpassing analyst estimates, with revenues of $14.58 billion for the last quarter.

Aragon Global Management LP lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 384.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,080 shares of the investment management company's stock after purchasing an additional 10,380 shares during the quarter. The Goldman Sachs Group comprises about 2.7% of Aragon Global Management LP's investment portfolio, making the stock its 14th largest holding. Aragon Global Management LP's holdings in The Goldman Sachs Group were worth $7,145,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GS. Brighton Jones LLC raised its stake 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 valued at $1,989,000 after purchasing an additional 508 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of The Goldman Sachs Group by 7.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after buying an additional 58 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $583,000. Highview Capital Management LLC DE raised its stake in shares of The Goldman Sachs Group by 4.7% in the 4th quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock worth $2,186,000 after buying an additional 171 shares in the last quarter. Finally, Voleon Capital Management LP bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $2,458,000. 71.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research note on Thursday, July 17th. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. JMP Securities reissued a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Wall Street Zen raised 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 target price on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Down 2.1%

NYSE:GS traded down $15.32 during trading hours on Tuesday, hitting $729.93. 2,278,000 shares of the company's stock traded hands, compared to its average volume of 2,498,530. The firm has a market cap of $220.97 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.58 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 $753.33. 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 stock's fifty day moving average price is $718.92 and its two-hundred day moving average price is $624.40.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted 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 firm 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 firm earned $8.62 earnings per share. The Goldman Sachs Group's quarterly revenue was up 14.5% on a year-over-year basis. On average, research analysts expect 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. This is an increase 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 is presently 35.26%.

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.