Curi RMB Capital LLC Cuts Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Curi RMB Capital LLC reduced its stake in The Goldman Sachs Group by 51.2%, owning only 577 shares after selling 606 shares in the 1st quarter.
• The Goldman Sachs Group's recent earnings report showed an EPS of $10.91, surpassing analyst estimates of $9.82, with revenues of $14.58 billion.
• The firm will increase its quarterly dividend to $4.00, up from $3.00, representing an annualized yield of 2.2%.

Curi RMB Capital LLC lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 51.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 577 shares of the investment management company's stock after selling 606 shares during the quarter. Curi RMB Capital LLC's holdings in The Goldman Sachs Group were worth $315,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GS. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group during the first quarter worth $25,000. American Capital Advisory LLC bought a new stake in The Goldman Sachs Group during the first quarter worth $29,000. Godsey & Gibb Inc. lifted its holdings in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the period. Mascagni Wealth Management Inc. bought a new stake in The Goldman Sachs Group during the fourth quarter worth $31,000. Finally, Lowe Wealth Advisors LLC lifted its holdings in The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after acquiring an additional 49 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares of the company's stock, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 in the last ninety days. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded up $16.42 during mid-day trading on Thursday, hitting $786.00. The company had a trading volume of 1,441,489 shares, compared to its average volume of 2,470,062. The company has a market capitalization of $237.94 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 1.60 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $793.17. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The stock's 50-day moving average price is $726.53 and its 200-day moving average price is $629.25.

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 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 firm's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $8.62 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $4.00 dividend. This represents a $16.00 annualized dividend 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 is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. HSBC reiterated a "reduce" rating and set a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. JMP Securities restated a "market perform" rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group 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.