The Goldman Sachs Group, Inc. $GS Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in The Goldman Sachs Group, Inc. by 0.7%, selling 439 shares and retaining 60,033 shares valued at approximately $32.8 million.
• The Goldman Sachs Group announced a quarterly dividend of $4.00, increasing from the previous $3.00, which reflects an annualized yield of 2.2%.
• Goldman Sachs' stock had a market capitalization of $224.57 billion and reported a 14.5% year-over-year revenue increase, totaling $14.58 billion in its latest quarterly earnings.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 0.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 60,033 shares of the investment management company's stock after selling 439 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in The Goldman Sachs Group were worth $32,795,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after acquiring an additional 508 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after buying an additional 58 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter worth $583,000. Highview Capital Management LLC DE raised its position 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 worth $2,186,000 after buying an additional 171 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in shares of The Goldman Sachs Group by 5.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 15,751 shares of the investment management company's stock worth $9,020,000 after buying an additional 877 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Up 1.3%

NYSE GS traded up $9.87 during mid-day trading on Tuesday, reaching $748.66. 1,494,795 shares of the company's stock traded hands, compared to its average volume of 2,519,332. The company has a current ratio of 0.67, a quick 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 $749.16. The company has a fifty day simple moving average of $707.78 and a 200-day simple moving average of $621.03. The company has a market cap of $226.64 billion, a price-to-earnings ratio of 16.50, 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 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business's revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $8.62 EPS. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently announced 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 2.1%. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is presently 35.26%.

Analyst Ratings Changes

Several brokerages have commented on GS. Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. HSBC reaffirmed a "reduce" rating and set a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. 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, Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $660.00.

Insider Activity

In other news, CEO David M. Solomon sold 6,608 shares of the 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 of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were 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 directly owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,079 shares of company stock worth $14,423,221. 0.55% of the stock is currently owned by corporate insiders.

About The Goldman Sachs Group

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.