HB Wealth Management LLC Has $7.77 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• HB Wealth Management LLC has increased its holdings in The Goldman Sachs Group by 44.3% to $7.77 million, owning 14,222 shares as of the end of the first quarter.
• Insider selling activities included CEO David M. Solomon selling 6,608 shares, resulting in a 4.98% decrease in his ownership, while the company's stock had a notable quarterly earnings report, exceeding estimates.
• Goldman Sachs recently declared a quarterly dividend of $4.00 per share, which is an increase from the previous $3.00 and reflects a 2.20% yield based on annualized payments.

HB Wealth Management LLC grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 44.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,222 shares of the investment management company's stock after purchasing an additional 4,364 shares during the period. HB Wealth Management LLC's holdings in The Goldman Sachs Group were worth $7,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of GS. Deutsche Bank AG raised its position in The Goldman Sachs Group by 15.4% in the 4th quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock worth $594,412,000 after purchasing an additional 138,198 shares during the last quarter. Clear Creek Financial Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $321,000. Adams Diversified Equity Fund Inc. raised its position in The Goldman Sachs Group by 41.5% in 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 purchasing an additional 14,600 shares during the last quarter. Terra Nova Asset Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $1,643,000. Finally, Strategic Blueprint LLC raised its position in The Goldman Sachs Group by 15.2% in the 1st 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 currently owned by institutional investors.

The Goldman Sachs Group Stock Up 0.3%

GS stock traded up $1.92 during trading hours on Wednesday, reaching $733.90. 482,752 shares of the stock were exchanged, compared to its average volume of 2,615,983. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $737.88. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68. The firm's 50-day moving average is $662.35 and its 200-day moving average is $607.95. The company has a market cap of $225.19 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.54 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm posted $8.62 EPS. The business's revenue was up 14.5% on a year-over-year basis. On average, equities research analysts expect 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. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.18%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is 26.44%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Daiwa Capital Markets cut shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 target price for the company. in a research report on Friday, April 4th. JMP Securities reiterated a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. JPMorgan Chase & Co. dropped their target price on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $660.00.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were 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. This trade represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value 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. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,079 shares of company stock valued at $14,423,221 in the last quarter. 0.55% of the stock is currently owned by insiders.

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.