The Goldman Sachs Group, Inc. $GS Shares Bought by Contravisory Investment Management Inc.

Key Points

• Contravisory Investment Management Inc. significantly increased its holdings in The Goldman Sachs Group, acquiring an additional 13,088 shares, resulting in a remarkable growth of 218,133.3% in the second quarter.
• The Goldman Sachs Group reported earnings of $10.91 per share, surpassing analysts' expectations, and posted revenues of $14.58 billion for the quarter.
• The firm announced a dividend increase to $4.00 per share, boosting the annualized dividend to $16.00 and representing a yield of 2.0%.

Contravisory Investment Management Inc. lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 218,133.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,094 shares of the investment management company's stock after acquiring an additional 13,088 shares during the quarter. The Goldman Sachs Group accounts for 1.8% of Contravisory Investment Management Inc.'s holdings, making the stock its 19th biggest position. Contravisory Investment Management Inc.'s holdings in The Goldman Sachs Group were worth $9,267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GS. GAMMA Investing LLC grew its position in shares of The Goldman Sachs Group by 63,864.7% in the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock valued at $2,172,423,000 after purchasing an additional 3,970,467 shares during the period. Northern Trust Corp grew its position in shares of The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after purchasing an additional 40,125 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of The Goldman Sachs Group by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock valued at $1,138,527,000 after purchasing an additional 120,272 shares during the period. Finally, Amundi grew its position in shares of The Goldman Sachs Group by 13.6% in the first quarter. Amundi now owns 1,891,260 shares of the investment management company's stock valued at $967,193,000 after purchasing an additional 225,993 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 0.3%

Shares of GS traded down $2.41 during trading on Monday, reaching $802.59. 542,495 shares of the company traded hands, compared to its average volume of 2,442,467. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $809.66. The stock has a market cap of $242.96 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The stock has a 50-day simple moving average of $738.03 and a 200-day simple moving average of $638.81. 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 announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same period last year, the business earned $8.62 earnings per share. The business's revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GS shares. Citigroup lifted their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Zacks Research downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $665.00.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group 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 transaction, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% 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, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the transaction, the chief operating officer owned 106,268 shares of the company's stock, valued at $79,755,196.68. This trade represents a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 in the last ninety days. 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.