Busey Bank Has $26.08 Million Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Busey Bank reduced its stake in The Goldman Sachs Group by 1.9%, selling 719 shares and leaving it with 36,853 shares total, which now represents 0.8% of the bank’s investment portfolio.
• The Goldman Sachs Group reported a quarterly earnings per share (EPS) of $10.91, exceeding analysts' estimates of $9.82, with a revenue increase of 14.5% year-over-year.
• The company announced a dividend increase, raising it from $3.00 to $4.00 per share, set to be paid to investors of record by the end of September.

Busey Bank reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,853 shares of the investment management company's stock after selling 719 shares during the period. The Goldman Sachs Group comprises about 0.8% of Busey Bank's holdings, making the stock its 27th largest position. Busey Bank's holdings in The Goldman Sachs Group were worth $26,083,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GS. King Wealth Management Group raised its stake in shares of The Goldman Sachs Group by 1.8% in the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock valued at $593,000 after buying an additional 19 shares in the last quarter. Raab & Moskowitz Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 0.9% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company's stock valued at $1,104,000 after buying an additional 19 shares in the last quarter. Wynn Capital LLC raised its stake in shares of The Goldman Sachs Group by 0.3% in the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock valued at $3,211,000 after buying an additional 20 shares in the last quarter. 1900 Wealth Management LLC raised its stake in shares of The Goldman Sachs Group by 2.6% in the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock valued at $425,000 after buying an additional 20 shares in the last quarter. Finally, World Equity Group Inc. raised its stake in shares of The Goldman Sachs Group by 0.9% in the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock valued at $1,273,000 after buying an additional 20 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Trading Up 0.0%

Shares of NYSE GS traded up $0.03 during midday trading on Tuesday, hitting $805.59. The stock had a trading volume of 1,135,064 shares, compared to its average volume of 2,438,771. The company's 50-day simple moving average is $739.87 and its 200 day simple moving average is $640.52. The firm has a market cap of $243.87 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67.

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 for the quarter was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $8.62 EPS. Research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors 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 2.0%. This is a boost 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 payout ratio is presently 35.26%.

Analysts Set New Price Targets

Several equities analysts recently commented on GS shares. Keefe, Bruyette & Woods raised their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. 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. Hsbc Global Res downgraded The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $665.00.

Insider Buying and Selling

In related news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock valued at $28,111,828 in the last three months. 0.55% of the stock is currently owned by company 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.