Generali Investments Towarzystwo Funduszy Inwestycyjnych Cuts Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych has reduced its position in The Goldman Sachs Group by 30%, bringing its holdings to 2,550 shares worth approximately $1.39 million.
• The Goldman Sachs Group recently increased its quarterly dividend from $3.00 to $4.00 per share, marking a significant increase with a yield of 2.3%.
• In Q2, The Goldman Sachs Group reported earnings per share of $10.91, exceeding analysts' expectations by $1.09 and reflecting a 14.5% revenue increase year-over-year.

Generali Investments Towarzystwo Funduszy Inwestycyjnych cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 30.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,550 shares of the investment management company's stock after selling 1,091 shares during the quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in The Goldman Sachs Group were worth $1,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GS. American Capital Advisory LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at about $29,000. Godsey & Gibb Inc. raised its holdings in The Goldman Sachs Group by 170.0% in 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. Transce3nd LLC bought a new position in The Goldman Sachs Group in the 4th quarter valued at about $31,000. Mascagni Wealth Management Inc. bought a new position in The Goldman Sachs Group in the 4th quarter valued at about $31,000. Finally, Lowe Wealth Advisors LLC raised its holdings in The Goldman Sachs Group by 326.7% in 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 owned by institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were 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 approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% 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 valued at $14,423,221. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Price Performance

NYSE:GS traded down $10.55 on Tuesday, hitting $715.48. The company had a trading volume of 684,324 shares, compared to its average volume of 2,606,398. The stock has a market capitalization of $219.54 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.51 and a beta of 1.38. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26. The firm has a 50 day moving average of $672.36 and a two-hundred day moving average of $611.57. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $737.88.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS 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 the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The firm's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.62 EPS. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is currently 26.44%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GS shares. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a report on Thursday, July 10th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Morgan Stanley increased their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Barclays decreased 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 research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of "Hold" and an average price target 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.