CX Institutional Buys 473 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• CX Institutional increased its stake in The Goldman Sachs Group by 11.9% in the second quarter, owning a total of 4,458 shares valued at approximately $3.15 million.
• Goldman Sachs reported a quarterly earnings per share of $10.91, surpassing the estimated $9.82, and had a revenue of $14.58 billion, a year-over-year increase of 14.5%.
• The company's dividend was increased from $3.00 to $4.00 per share, reflecting a yield of 2.0% and an annualized payout of $16.00.

CX Institutional raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 11.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,458 shares of the investment management company's stock after purchasing an additional 473 shares during the period. CX Institutional's holdings in The Goldman Sachs Group were worth $3,155,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GS. Brighton Jones LLC raised its stake in shares of 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 valued at $1,989,000 after buying an additional 508 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of 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 valued at $508,000 after buying an additional 58 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at $583,000. Two Sigma Investments LP raised its stake in shares of The Goldman Sachs Group by 4.5% in the 4th quarter. Two Sigma Investments LP now owns 6,513 shares of the investment management company's stock valued at $3,729,000 after buying an additional 280 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at $383,000. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Up 0.0%

The Goldman Sachs Group stock opened at $804.45 on Friday. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $809.66. The company's 50 day simple moving average is $738.03 and its 200 day simple moving average is $638.30. The firm has a market capitalization of $243.52 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.68 and a beta of 1.41.

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 firm 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 posted $8.62 earnings per share. The business's revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $4.00 per share. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is presently 35.26%.

Insider Activity

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the transaction, the chief executive officer directly 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 at this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents 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. Corporate insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Zacks Research cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $665.00.

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.

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