DRW Securities LLC Decreases Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• DRW Securities LLC has reduced its stock position in The Goldman Sachs Group, Inc. by 47.7%, ending the quarter with 1,666 shares valued at $910,000.
• The Goldman Sachs Group's recent quarterly earnings beat expectations with an EPS of $10.91, surpassing analyst estimates of $9.82, and reporting revenue of $14.58 billion.
• The firm announced an increase in its quarterly dividend from $3.00 to $4.00 per share, representing a 2.1% yield for shareholders.

DRW Securities LLC reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 47.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,666 shares of the investment management company's stock after selling 1,520 shares during the quarter. DRW Securities LLC's holdings in The Goldman Sachs Group were worth $910,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $25,000. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $29,000. Godsey & Gibb Inc. grew its stake in shares of The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after acquiring an additional 34 shares during the period. Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $31,000. Finally, Lowe Wealth Advisors LLC grew its stake in shares of The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after acquiring an additional 49 shares during the period. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Price Performance

Shares of GS traded up $17.52 during mid-day trading on Thursday, hitting $748.08. 1,777,429 shares of the stock were exchanged, compared to its average volume of 2,488,824. The firm has a 50-day moving average of $721.47 and a two-hundred day moving average of $625.85. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $753.33. The company has a market cap of $226.46 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.58 and a beta of 1.41. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last released 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 Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the firm posted $8.62 EPS. The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.1%. 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 payout ratio is presently 35.26%.

Insider Activity

In related news, 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 transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the sale, the chief financial officer owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GS. Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Morgan Stanley upped their price target on 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 upped their price target on 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. 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 equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price 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.