Atria Wealth Solutions Inc. Has $7.72 Million Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Atria Wealth Solutions Inc. has reduced its holdings in The Goldman Sachs Group, Inc. by 18.6%, selling 3,219 shares for a total of $7,719,000 at the end of the first quarter.
• Insider activities show that CFO Denis P. Coleman and EVP John F.W. Rogers sold significant amounts of company shares, indicating a respective 28.64% and 8.37% decrease in their positions.
• The Goldman Sachs Group announced a dividend increase to $4.00 per share, representing a yield of 2.2%, up from the previous $3.00 per share.

Atria Wealth Solutions Inc. decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,129 shares of the investment management company's stock after selling 3,219 shares during the period. Atria Wealth Solutions Inc.'s holdings in The Goldman Sachs Group were worth $7,719,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GS. Costello Asset Management INC increased its position in shares of The Goldman Sachs Group by 95.9% during the first quarter. Costello Asset Management INC now owns 474 shares of the investment management company's stock valued at $259,000 after purchasing an additional 232 shares during the period. Encompass More Asset Management acquired a new stake in The Goldman Sachs Group during the first quarter worth $340,000. Horizon Family Wealth Inc. boosted its stake in The Goldman Sachs Group by 9.5% during the first quarter. Horizon Family Wealth Inc. now owns 1,017 shares of the investment management company's stock worth $556,000 after buying an additional 88 shares in the last quarter. Thoroughbred Financial Services LLC increased its holdings in The Goldman Sachs Group by 5.6% in the 1st quarter. Thoroughbred Financial Services LLC now owns 7,600 shares of the investment management company's stock valued at $4,151,000 after buying an additional 401 shares during the period. Finally, W.H. Cornerstone Investments Inc. raised its stake in shares of The Goldman Sachs Group by 39.0% in the 1st quarter. W.H. Cornerstone Investments Inc. now owns 2,129 shares of the investment management company's stock valued at $1,163,000 after buying an additional 597 shares in the last quarter. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE GS traded up $2.02 on Friday, hitting $721.76. 1,275,362 shares of the company were exchanged, compared to its average volume of 2,022,910. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $737.88. The firm has a 50 day moving average of $679.08 and a two-hundred day moving average of $613.75. The company has a current ratio of 0.67, a quick ratio of 0.68 and a debt-to-equity ratio of 2.57. The company has a market cap of $218.49 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.53 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the business 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, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $4.00 dividend. This is an increase 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 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group's payout ratio is 26.44%.

Analyst Ratings Changes

GS has been the topic of several recent research reports. Citigroup lifted their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. JMP Securities restated a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Evercore ISI set a $715.00 price target on The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods increased 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $660.00.

Insider Activity

In related news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction dated 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 sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The sale 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 company's stock in a transaction dated Wednesday, July 23rd. The shares were 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. In the last ninety days, insiders sold 20,079 shares of company stock valued at $14,423,221. Company insiders own 0.55% of the company's stock.

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.