The Goldman Sachs Group, Inc. (NYSE:GS) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in The Goldman Sachs Group by 120.6%, now holding 16,424 shares valued at approximately $8.97 million.
• The Goldman Sachs Group announced a quarterly dividend increase from $3.00 to $4.00 per share, with the ex-dividend date set for August 29th.
• The company's earnings report showed an EPS of $10.91, exceeding estimates by $1.09, and a revenue of $14.58 billion.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 120.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,424 shares of the investment management company's stock after buying an additional 8,980 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in The Goldman Sachs Group were worth $8,972,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its holdings in 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 worth $1,989,000 after buying an additional 508 shares during the period. Revolve Wealth Partners LLC increased its holdings in 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 worth $508,000 after buying an additional 58 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in The Goldman Sachs Group in the 4th quarter worth approximately $583,000. Highview Capital Management LLC DE increased its holdings in 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, Covestor Ltd increased its holdings in The Goldman Sachs Group by 41.3% in the 4th quarter. Covestor Ltd now owns 147 shares of the investment management company's stock worth $85,000 after buying an additional 43 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Down 2.0%

Shares of NYSE GS traded down $15.05 during trading on Friday, hitting $732.16. 1,203,390 shares of the company were exchanged, compared to its average volume of 2,559,864. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $749.05. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The company has a fifty day moving average price of $692.48 and a 200-day moving average price of $617.21. The firm has a market capitalization of $221.64 billion, a PE ratio of 16.13, a P/E/G ratio of 1.58 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm earned $8.62 EPS. The company's quarterly revenue was up 14.5% compared to the same quarter last year. 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 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. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is 26.44%.

Insider Activity

In related news, CEO David M. Solomon sold 6,608 shares of the business's 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 completion of the sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,079 shares of company stock worth $14,423,221. 0.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Morgan Stanley raised their price objective on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods raised their price objective on shares of 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. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Finally, JMP Securities reaffirmed a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $660.00.

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.