Foster & Motley Inc. Reduces Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

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Foster & Motley Inc. lessened its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,910 shares of the investment management company's stock after selling 604 shares during the quarter. Foster & Motley Inc.'s holdings in The Goldman Sachs Group were worth $3,229,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GS. Deutsche Bank AG grew its stake in shares of The Goldman Sachs Group by 15.4% during the fourth quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock valued at $594,412,000 after buying an additional 138,198 shares during the last quarter. Clear Creek Financial Management LLC purchased a new stake in The Goldman Sachs Group in the first quarter worth $321,000. Adams Diversified Equity Fund Inc. lifted its position in shares of The Goldman Sachs Group by 41.5% during the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock worth $27,205,000 after purchasing an additional 14,600 shares during the last quarter. Terra Nova Asset Management LLC purchased a new stake in shares of The Goldman Sachs Group during the first quarter valued at $1,643,000. Finally, Strategic Blueprint LLC grew its holdings in shares of The Goldman Sachs Group by 15.2% in the first quarter. Strategic Blueprint LLC now owns 3,271 shares of the investment management company's stock worth $1,787,000 after purchasing an additional 432 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the sale, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,079 shares of company stock worth $14,423,221 in the last quarter. Corporate insiders own 0.55% of the company's stock.

Analyst Ratings Changes

GS has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Wells Fargo & Company raised their price target 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. Daiwa Capital Markets downgraded The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective for the company. in a report on Friday, April 4th. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Barclays cut their target price on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $660.00.

The Goldman Sachs Group Stock Performance

Shares of GS stock traded down $14.19 on Friday, hitting $709.40. The company had a trading volume of 2,997,787 shares, compared to its average volume of 2,015,611. The firm has a market cap of $217.67 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.38. The Goldman Sachs Group, Inc. has a twelve month low of $437.37 and a twelve month high of $737.88. The company has a 50-day moving average price of $669.82 and a 200-day moving average price of $610.89. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26.

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, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the company posted $8.62 EPS. The company's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts predict 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 firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.3%. The Goldman Sachs Group's 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.