Bank of Hawaii Decreases Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Bank of Hawaii has reduced its stake in The Goldman Sachs Group by 31.1%, now holding 4,367 shares valued at approximately $2.39 million.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00, up from $3.00 previously, reflecting a favorable annualized yield of 2.2%.
• In its latest earnings report, The Goldman Sachs Group reported $10.91 earnings per share, exceeding expectations and showing a revenue increase of 14.5% compared to the same quarter last year.

Bank of Hawaii reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 31.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,367 shares of the investment management company's stock after selling 1,969 shares during the quarter. Bank of Hawaii's holdings in The Goldman Sachs Group were worth $2,386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Apexium Financial LP raised its holdings in shares of The Goldman Sachs Group by 2.9% in the first quarter. Apexium Financial LP now owns 5,403 shares of the investment management company's stock valued at $2,952,000 after acquiring an additional 154 shares in the last quarter. Anson Funds Management LP bought a new position in The Goldman Sachs Group in the first quarter worth about $1,093,000. Freedom Investment Management Inc. bought a new position in The Goldman Sachs Group in the first quarter worth about $286,000. Synovus Financial Corp raised its holdings in The Goldman Sachs Group by 9.6% in the first quarter. Synovus Financial Corp now owns 18,690 shares of the investment management company's stock worth $10,208,000 after purchasing an additional 1,643 shares in the last quarter. Finally, ICONIQ Capital LLC raised its holdings in The Goldman Sachs Group by 14.1% in the first quarter. ICONIQ Capital LLC now owns 2,230 shares of the investment management company's stock worth $1,218,000 after purchasing an additional 275 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Insider Transactions at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was 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 $89,876,426.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the 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 transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,079 shares of company stock valued at $14,423,221 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GS shares. Keefe, Bruyette & Woods boosted their price target 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. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, HSBC reiterated a "reduce" rating and issued a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded up $0.92 during midday trading on Wednesday, reaching $749.87. 1,534,747 shares of the stock were exchanged, compared to its average volume of 1,726,042. The firm has a market cap of $227.00 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.59 and a beta of 1.38. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $753.00. The firm has a 50-day simple moving average of $712.55 and a two-hundred day simple moving average of $622.80. 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 (NYSE:GS - Get Free Report) last issued 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 business had revenue of $14.58 billion for 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 business's revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $8.62 EPS. As a group, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is 26.44%.

The Goldman Sachs Group Company 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.