The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Commerce Bank

Key Points

• Commerce Bank has reduced its holdings in The Goldman Sachs Group, Inc. by 1.1%, owning 39,432 shares valued at $21.54 million as of the latest SEC filing.
• Recent transactions reveal significant insider selling, with EVP John F.W. Rogers and CFO Denis P. Coleman reducing their positions by 8.37% and 28.64%, respectively.
• The company has announced an increase in its quarterly dividend to $4.00, up from $3.00, representing a 2.3% dividend yield.

Commerce Bank lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,432 shares of the investment management company's stock after selling 436 shares during the period. Commerce Bank's holdings in The Goldman Sachs Group were worth $21,541,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Moors & Cabot Inc. grew its position in shares of The Goldman Sachs Group by 38.7% in the 1st quarter. Moors & Cabot Inc. now owns 4,208 shares of the investment management company's stock valued at $2,299,000 after buying an additional 1,174 shares during the last quarter. Bank of Jackson Hole Trust lifted its position in shares of The Goldman Sachs Group by 121.7% in the 1st quarter. Bank of Jackson Hole Trust now owns 634 shares of the investment management company's stock worth $346,000 after purchasing an additional 348 shares during the period. Nicolet Advisory Services LLC increased its position in shares of The Goldman Sachs Group by 14.3% during the first quarter. Nicolet Advisory Services LLC now owns 534 shares of the investment management company's stock worth $292,000 after buying an additional 67 shares during the period. HHM Wealth Advisors LLC raised its stake in The Goldman Sachs Group by 53.3% during the first quarter. HHM Wealth Advisors LLC now owns 325 shares of the investment management company's stock worth $178,000 after buying an additional 113 shares during the last quarter. Finally, King Wealth Management Group increased its holdings in The Goldman Sachs Group by 1.8% in the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after purchasing an additional 19 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GS shares. 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. Citigroup boosted their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an "outperform" rating in a report on Thursday, July 10th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $660.00.

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded up $16.26 during midday trading on Monday, hitting $725.83. The stock had a trading volume of 1,753,263 shares, compared to its average volume of 2,165,566. The Goldman Sachs Group, Inc. has a 1 year low of $437.37 and a 1 year high of $737.88. The company has a market capitalization of $222.71 billion, a PE ratio of 15.99, a P/E/G ratio of 1.51 and a beta of 1.38. The stock has a 50 day simple moving average of $669.82 and a 200-day simple moving average of $610.88. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results 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 company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.62 earnings per share. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business 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 $4.00 dividend. The ex-dividend date is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group's payout ratio is 26.44%.

Insider Activity

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction on 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 transaction, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $5,406,197.20. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,079 shares of company stock worth $14,423,221. Corporate insiders own 0.55% of the company's stock.

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.