Assetmark Inc. Has $8.67 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Assetmark Inc. increased its holdings in The Goldman Sachs Group by 60.4%, owning a total of 15,871 shares valued at approximately $8.67 million after purchasing 5,976 additional shares.
• The company reported strong quarterly earnings of $10.91 per share, surpassing analysts' expectations of $9.82, with revenues up 14.5% year-over-year at $14.58 billion.
• The Goldman Sachs Group announced a dividend increase to $4.00 per share, up from $3.00, which will yield an annualized dividend of $16.00 with a yield of 2.20% for the investors of record.

Assetmark Inc. increased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 60.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,871 shares of the investment management company's stock after buying an additional 5,976 shares during the period. Assetmark Inc.'s holdings in The Goldman Sachs Group were worth $8,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GS. Deutsche Bank AG lifted its stake in shares of The Goldman Sachs Group by 15.4% during the fourth quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock worth $594,412,000 after buying an additional 138,198 shares during the period. Clear Creek Financial Management LLC acquired a new position in The Goldman Sachs Group during the first quarter worth about $321,000. Adams Diversified Equity Fund Inc. raised its stake in shares of The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after acquiring an additional 14,600 shares during the period. Terra Nova Asset Management LLC purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $1,643,000. Finally, Strategic Blueprint LLC increased its position in shares of The Goldman Sachs Group by 15.2% in the 1st quarter. Strategic Blueprint LLC now owns 3,271 shares of the investment management company's stock valued at $1,787,000 after purchasing an additional 432 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Down 0.4%

NYSE:GS traded down $2.68 during mid-day trading on Thursday, reaching $728.07. The stock had a trading volume of 817,127 shares, compared to its average volume of 2,612,392. The business's 50 day moving average is $665.10 and its 200 day moving average is $608.80. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $737.88. The stock has a market cap of $223.40 billion, a P/E ratio of 16.05, a PEG ratio of 1.55 and a beta of 1.35. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68.

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 EPS for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the company posted $8.62 earnings per share. The firm's revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.20%. 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. The Goldman Sachs Group's dividend payout ratio is currently 26.44%.

Insider Activity

In related 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 value of $4,310,079.12. Following the completion of the transaction, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,079 shares of company stock valued at $14,423,221. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on GS. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. JMP Securities reiterated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Keefe, Bruyette & Woods lifted their price target 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. HSBC restated a "reduce" rating and issued a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Finally, Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and a consensus price target 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.