The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in The Goldman Sachs Group by 28.8%, holding 18,003 shares worth approximately $9.83 million after selling 7,266 shares in the first quarter.
• The Goldman Sachs Group's stock has seen a 3.3% increase, with a current share price of $743.06 and a market capitalization of $224.94 billion.
• Goldman Sachs announced a dividend increase to $4.00 per share, up from $3.00, with the dividend yield now at 2.2%.

Gulf International Bank UK Ltd cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 28.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,003 shares of the investment management company's stock after selling 7,266 shares during the period. Gulf International Bank UK Ltd's holdings in The Goldman Sachs Group were worth $9,834,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. King Wealth Management Group raised its stake in shares of The Goldman Sachs Group by 1.8% during the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after purchasing an additional 19 shares during the last quarter. Wynn Capital LLC raised its stake in shares of 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 purchasing an additional 20 shares during the last quarter. 1900 Wealth Management LLC raised its position in The Goldman Sachs Group by 2.6% in the first quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after acquiring an additional 20 shares in the last quarter. World Equity Group Inc. lifted its holdings in The Goldman Sachs Group by 0.9% in the first quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock valued at $1,273,000 after acquiring an additional 20 shares during the period. Finally, Register Financial Advisors LLC lifted its holdings in The Goldman Sachs Group by 2.5% in the first quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock valued at $440,000 after acquiring an additional 20 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GS shares. HSBC reissued a "reduce" rating and issued a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. JMP Securities reissued a "market perform" rating and issued a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Morgan Stanley raised their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $660.00.

Insiders Place Their Bets

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 stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the sale, the executive vice president directly 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 sale 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 firm's stock in a transaction dated 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 approximately $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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 Price Performance

Shares of GS traded down $16.70 during trading hours on Friday, reaching $730.50. 1,645,323 shares of the company traded hands, compared to its average volume of 2,562,954. 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 stock has a market capitalization of $221.14 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.58 and a beta of 1.38. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $749.05. The stock has a fifty day simple moving average of $692.48 and a 200 day simple moving average of $617.21.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $8.62 earnings per share. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

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