Galvin Gaustad & Stein LLC Raises Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Galvin Gaustad & Stein LLC increased its stake in The Goldman Sachs Group, owning a total of 28,392 shares valued at approximately $15.51 million after purchasing additional shares in the 1st quarter.
• The Goldman Sachs Group recently announced a quarterly dividend of $4.00 per share, representing a 33.3% increase from the previous dividend of $3.00, with a yield of 2.20%.
• Analysts have mixed ratings for The Goldman Sachs Group, with a consensus price target of $660.00 and ratings varying from sell to buy among research analysts.

Galvin Gaustad & Stein LLC grew its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,392 shares of the investment management company's stock after acquiring an additional 674 shares during the period. Galvin Gaustad & Stein LLC's holdings in The Goldman Sachs Group were worth $15,510,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Deutsche Bank AG increased its holdings in shares of The Goldman Sachs Group by 15.4% in 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 purchasing an additional 138,198 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth $321,000. Adams Diversified Equity Fund Inc. grew its holdings in The Goldman Sachs Group by 41.5% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock worth $27,205,000 after acquiring an additional 14,600 shares during the period. Terra Nova Asset Management LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth $1,643,000. Finally, Strategic Blueprint LLC grew its holdings in The Goldman Sachs Group by 15.2% during the 1st quarter. Strategic Blueprint LLC now owns 3,271 shares of the investment management company's stock worth $1,787,000 after acquiring an additional 432 shares during the period. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded down $4.90 during midday trading on Thursday, reaching $725.85. The stock had a trading volume of 1,096,142 shares, compared to its average volume of 2,614,515. The stock has a 50-day moving average of $665.10 and a 200-day moving average of $608.80. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12. The company has a market capitalization of $222.72 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $737.88.

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 for the quarter, beating 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 company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same period last year, the company posted $8.62 earnings per share. The Goldman Sachs Group's quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 26.44%.

Analyst Upgrades and Downgrades

GS has been the subject of several research analyst reports. Daiwa America lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. JPMorgan Chase & Co. decreased their price target on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Daiwa Capital Markets lowered shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price target for the company. in a report on Friday, April 4th. Finally, Wells Fargo & Company upped their target price on shares of 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. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $660.00.

Insider Buying and Selling

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,079 shares of company stock valued at $14,423,221 in the last 90 days. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Company 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.