Asio Capital LLC Makes New $3.20 Million Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• Asio Capital LLC has made a new investment of approximately $3.2 million in The Goldman Sachs Group, acquiring 4,521 shares.
• The company recently reported earnings of $10.91 per share, exceeding analysts' expectations of $9.82 and showing a 14.5% increase in quarterly revenue compared to the previous year.
• The Goldman Sachs Group has declared a quarterly dividend of $4.00 per share, up from a previous dividend of $3.00, offering a 2.0% dividend yield.

Asio Capital LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,521 shares of the investment management company's stock, valued at approximately $3,200,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GS. Kingstone Capital Partners Texas LLC lifted its stake in shares of The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock worth $20,566,005,000 after buying an additional 29,053,586 shares in the last quarter. Northern Trust Corp raised its holdings in The Goldman Sachs Group by 1.2% in the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after acquiring an additional 40,125 shares during the last quarter. International Assets Investment Management LLC purchased a new position in The Goldman Sachs Group in the 1st quarter worth approximately $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of The Goldman Sachs Group by 6.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock worth $1,138,527,000 after purchasing an additional 120,272 shares during the last quarter. Finally, Amundi grew its position in shares of The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company's stock valued at $967,193,000 after purchasing an additional 225,993 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 0.2%

Shares of GS stock opened at $804.07 on Tuesday. The business's fifty day moving average price is $749.28 and its 200 day moving average price is $649.87. The firm has a market capitalization of $243.41 billion, a PE ratio of 17.72, a P/E/G ratio of 1.67 and a beta of 1.41. 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 Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results 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 company had revenue of $14.58 billion during 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 quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $8.62 earnings per share. As a group, sell-side analysts forecast 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 was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group's payout ratio is presently 35.26%.

Insider Activity

In related news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the 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 completion of the transaction, the chief executive officer directly owned 126,176 shares in the company, valued at $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. In the last three months, insiders sold 38,323 shares of company stock worth $28,111,828. Corporate insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. JMP Securities reiterated a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research report 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 report on Monday, July 21st. Finally, Zacks Research downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $674.93.

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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