Cozad Asset Management Inc. Boosts Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Cozad Asset Management Inc. increased its holdings in The Goldman Sachs Group by 24.1% in Q1, owning a total of 20,826 shares worth approximately $11.38 million.
• Goldman Sachs recently declared a quarterly dividend of $4.00 per share, up from a previous $3.00, representing an annualized yield of 2.21%.
• In its latest quarterly earnings report, Goldman Sachs exceeded expectations with $10.91 EPS against a consensus estimate of $9.82, and reported a 14.5% year-over-year increase in quarterly revenue.

Cozad Asset Management Inc. lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 24.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,826 shares of the investment management company's stock after purchasing an additional 4,042 shares during the period. The Goldman Sachs Group accounts for approximately 1.1% of Cozad Asset Management Inc.'s holdings, making the stock its 22nd largest position. Cozad Asset Management Inc.'s holdings in The Goldman Sachs Group were worth $11,377,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth $72,000. TCTC Holdings LLC raised its position in The Goldman Sachs Group by 6.4% in the 1st quarter. TCTC Holdings LLC now owns 2,180 shares of the investment management company's stock worth $1,191,000 after purchasing an additional 132 shares during the period. Meeder Asset Management Inc. increased its position in shares of The Goldman Sachs Group by 104.8% during the first quarter. Meeder Asset Management Inc. now owns 172 shares of the investment management company's stock worth $94,000 after acquiring an additional 88 shares during the period. Meeder Advisory Services Inc. increased its holdings in The Goldman Sachs Group by 3.4% during the first quarter. Meeder Advisory Services Inc. now owns 7,928 shares of the investment management company's stock valued at $4,331,000 after buying an additional 259 shares during the period. Finally, Hurley Capital LLC purchased a new position in The Goldman Sachs Group during the first quarter valued at approximately $44,000. Institutional investors own 71.21% of the company's stock.

Insider Buying and Selling

In related news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction that occurred on 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 completion of 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 position. The transaction 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 stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. The trade was 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 valued at $14,423,221. Company insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GS shares. Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 target price for the company. in a research note on Friday, April 4th. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Finally, Barclays lowered their target price on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Performance

GS traded down $13.25 on Friday, reaching $710.34. The stock had a trading volume of 2,250,474 shares, compared to its average volume of 2,620,808. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $737.88. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26. The business's 50-day moving average price is $667.61 and its two-hundred day moving average price is $609.90. The company has a market cap of $217.96 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35.

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, topping analysts' consensus estimates of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The company's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.62 earnings per share. Sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.3%. 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 dividend payout ratio is 35.26%.

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.