Atalanta Sosnoff Capital LLC Sells 62,322 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Atalanta Sosnoff Capital LLC has reduced its holdings in The Goldman Sachs Group by 25.8%, selling 62,322 shares to hold a total of 179,161 shares.
• The Goldman Sachs Group reported a quarterly earnings per share of $10.91, surpassing analysts' expectations by $1.09, with a total revenue of $14.58 billion.
• The company has declared a quarterly dividend of $4.00 per share, an increase from its previous dividend of $3.00, reflecting a commitment to return value to shareholders.

Atalanta Sosnoff Capital LLC reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 25.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 179,161 shares of the investment management company's stock after selling 62,322 shares during the quarter. The Goldman Sachs Group accounts for approximately 2.3% of Atalanta Sosnoff Capital LLC's holdings, making the stock its 13th biggest position. Atalanta Sosnoff Capital LLC owned about 0.06% of The Goldman Sachs Group worth $97,874,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Deutsche Bank AG lifted its position in shares of The Goldman Sachs Group by 15.4% during the 4th quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock valued at $594,412,000 after buying an additional 138,198 shares in the last quarter. Clear Creek Financial Management LLC purchased a new position in shares of The Goldman Sachs Group during the 1st quarter valued at about $321,000. Blueshift Asset Management LLC lifted its position in shares of The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after buying an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. lifted its position in shares of The Goldman Sachs Group by 41.5% during 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 buying an additional 14,600 shares in the last quarter. Finally, Terra Nova Asset Management LLC purchased a new position in shares of The Goldman Sachs Group during the 1st quarter valued at about $1,643,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $729.93 on Wednesday. The stock's fifty day moving average is $720.29 and its 200 day moving average is $625.14. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $753.33. The firm has a market capitalization of $220.97 billion, a PE ratio of 16.08, a PEG ratio of 1.58 and a beta of 1.41. 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 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 company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the firm posted $8.62 EPS. The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

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

Insider Buying and Selling

In related news, COO John E. Waldron sold 9,000 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the sale, the chief operating officer owned 106,268 shares in the company, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the 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 sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. JMP Securities reaffirmed a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Finally, Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. One research 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. Based on data from MarketBeat.com, the company 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.

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