Banco BTG Pactual S.A. Reduces Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Banco BTG Pactual S.A. reduced its stake in The Goldman Sachs Group by 21.7%, selling 2,179 shares in the 1st quarter, leaving it with 7,878 shares valued at approximately $4.3 million.
• The Goldman Sachs Group recently announced a quarterly dividend of $4.00 per share, increasing from the previous $3.00, with a yield of 2.2%.
• The company reported $10.91 earnings per share, surpassing estimates, alongside revenue of $14.58 billion, reflecting a 14.5% increase from the previous year.

Banco BTG Pactual S.A. lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 21.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,878 shares of the investment management company's stock after selling 2,179 shares during the quarter. The Goldman Sachs Group accounts for 1.1% of Banco BTG Pactual S.A.'s investment portfolio, making the stock its 26th largest holding. Banco BTG Pactual S.A.'s holdings in The Goldman Sachs Group were worth $4,304,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GS. Brighton Jones LLC increased its holdings in shares of The Goldman Sachs Group by 17.1% in the 4th 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 increased its holdings 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 valued at $508,000 after purchasing an additional 58 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new position in shares of The Goldman Sachs Group in the 4th quarter valued at about $583,000. Highview Capital Management LLC DE increased its holdings 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 valued at $2,186,000 after purchasing an additional 171 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of The Goldman Sachs Group by 238.2% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 115 shares of the investment management company's stock valued at $66,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GS shares. Morgan Stanley increased their price target 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. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. JMP Securities restated 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. Finally, Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus price target of $660.00.

The Goldman Sachs Group Trading Down 0.2%

Shares of GS traded down $1.2870 during mid-day trading on Monday, hitting $740.6030. The company had a trading volume of 623,664 shares, compared to its average volume of 2,520,842. The business's 50-day simple moving average is $705.56 and its 200-day simple moving average is $620.45. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $749.05. The stock has a market cap of $224.20 billion, a PE ratio of 16.34, a P/E/G ratio of 1.58 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same period last year, the company earned $8.62 earnings per share. The company's quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. This is a positive change 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 presently 26.44%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares of the company's stock, valued at $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 directly owned 126,176 shares in the company, valued at approximately $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. Insiders have sold a total of 20,079 shares of company stock valued at $14,423,221 over the last ninety days. Corporate 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.