Edgar Lomax Co. VA Reduces Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Edgar Lomax Co. VA has reduced its holdings in The Goldman Sachs Group by 10.0%, selling 2,525 shares in the first quarter, now owning 22,745 shares valued at approximately $12.4 million.
• Several other institutional investors have adjusted their positions, with Korea Investment CORP increasing its stake by 9.0% and Aptus Capital Advisors LLC raising its stake by 54.8% during the same period.
• The Goldman Sachs Group announced a quarterly dividend increase to $4.00 per share, translating to an annualized dividend of $16.00 per share, indicating a yield of 2.2% for stockholders of record by August 29th.

Edgar Lomax Co. VA lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 10.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,745 shares of the investment management company's stock after selling 2,525 shares during the quarter. Edgar Lomax Co. VA's holdings in The Goldman Sachs Group were worth $12,425,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GS. Korea Investment CORP grew its position in shares of The Goldman Sachs Group by 9.0% during the first quarter. Korea Investment CORP now owns 252,023 shares of the investment management company's stock worth $137,678,000 after acquiring an additional 20,772 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in shares of The Goldman Sachs Group by 54.8% during the 1st quarter. Aptus Capital Advisors LLC now owns 12,157 shares of the investment management company's stock worth $6,641,000 after buying an additional 4,305 shares during the last quarter. Granite Harbor Advisors Inc. acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth $207,000. Northern Trust Corp raised its stake in shares of The Goldman Sachs Group by 1.2% during the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock worth $1,820,677,000 after buying an additional 40,125 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of The Goldman Sachs Group by 67.8% during the 1st quarter. Brooklyn Investment Group now owns 3,072 shares of the investment management company's stock worth $1,678,000 after buying an additional 1,241 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Transactions at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,079 shares of company stock worth $14,423,221. Company insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Morgan Stanley boosted their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, HSBC reaffirmed a "reduce" rating and issued a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $660.00.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $730.50 on Monday. 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 firm has a market cap of $221.14 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.55 and a beta of 1.38. The business's fifty day moving average is $694.80 and its two-hundred day moving average is $617.51. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $749.05.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The firm 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 company's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $8.62 earnings per share. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase 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 is 26.44%.

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.

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