Hodges Capital Management Inc. Sells 668 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Hodges Capital Management Inc. reduced its stake in The Goldman Sachs Group by 7.1%, selling 668 shares, leaving them with 8,677 shares valued at approximately $4.74 million.
• The Goldman Sachs Group recently announced an increase in its quarterly dividend from $3.00 to $4.00 per share, with a yield of 2.0%.
• The company reported earnings of $10.91 per share for the last quarter, exceeding the consensus estimate by $1.09, and a year-over-year revenue increase of 14.5%.

Hodges Capital Management Inc. cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 7.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,677 shares of the investment management company's stock after selling 668 shares during the period. Hodges Capital Management Inc.'s holdings in The Goldman Sachs Group were worth $4,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group during the 1st quarter valued at $25,000. American Capital Advisory LLC bought a new stake in The Goldman Sachs Group during the 1st quarter valued at $29,000. Godsey & Gibb Inc. raised its position in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in The Goldman Sachs Group during the 4th quarter valued at $31,000. Finally, Lowe Wealth Advisors LLC raised its position in The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after purchasing an additional 49 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Trading Up 2.0%

Shares of NYSE:GS opened at $785.23 on Friday. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $793.17. The business's fifty day simple moving average is $727.73 and its 200-day simple moving average is $630.35. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $237.70 billion, a PE ratio of 17.30, a P/E/G ratio of 1.61 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the business earned $8.62 EPS. The firm'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. Investors of record on Friday, August 29th will be paid 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 annualized dividend and a yield of 2.0%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Finally, Wells Fargo & Company lifted their price target on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $660.00.

Insiders Place Their Bets

In related news, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO John E. Waldron sold 9,244 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock valued at $28,111,828 in the last 90 days. Corporate 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.

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