Ethic Inc. Has $25.13 Million Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Ethic Inc. reduced its stake in The Goldman Sachs Group by 2.4%, holding 45,812 shares valued at $25.13 million, making it the firm's 27th largest position.
• The Goldman Sachs Group recently reported quarterly earnings of $10.91 EPS, exceeding analysts' expectations of $9.82, with a significant 14.5% increase in revenue year-over-year.
• A quarterly dividend of $4.00 has been declared, up from the previous $3.00, representing a 2.1% yield for shareholders.

Ethic Inc. lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,812 shares of the investment management company's stock after selling 1,131 shares during the quarter. The Goldman Sachs Group accounts for approximately 0.5% of Ethic Inc.'s holdings, making the stock its 27th largest holding. Ethic Inc.'s holdings in The Goldman Sachs Group were worth $25,125,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. King Wealth Management Group boosted its stake in shares of The Goldman Sachs Group by 1.8% in the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after acquiring an additional 19 shares during the last quarter. Wynn Capital LLC boosted its stake in The Goldman Sachs Group by 0.3% during the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after buying an additional 20 shares during the period. 1900 Wealth Management LLC boosted its stake in The Goldman Sachs Group by 2.6% during the first quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after buying an additional 20 shares during the period. World Equity Group Inc. lifted its stake in The Goldman Sachs Group by 0.9% during the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock worth $1,273,000 after acquiring an additional 20 shares in the last quarter. Finally, Register Financial Advisors LLC lifted its stake in The Goldman Sachs Group by 2.5% during the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock worth $440,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GS shares. Citigroup increased their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Morgan Stanley upped their target price on 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $660.00.

Insider Activity

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 completion of the sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the sale, the executive vice president owned 65,761 shares of the company's stock, valued at approximately $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 have sold 20,079 shares of company stock valued at $14,423,221. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Performance

NYSE:GS traded down $9.45 during trading hours on Tuesday, reaching $721.51. 1,722,573 shares of the stock were exchanged, compared to its average volume of 2,547,563. The stock has a market capitalization of $218.42 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.55 and a beta of 1.38. The firm has a 50 day simple moving average of $697.14 and a 200-day simple moving average of $618.14. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. 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 announced its 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 business 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 quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $8.62 earnings per share. As a group, sell-side 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is currently 26.44%.

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.