The Goldman Sachs Group, Inc. $GS Shares Sold by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC reduced its stake in The Goldman Sachs Group by 9.7%, selling 1,528 shares, leaving it with 14,223 shares valued at approximately $7.77 million.
• Analysts show mixed sentiments on the stock, with a consensus rating of "Hold" and a target price averaging $660.00, despite some banks predicting potential growth with targets as high as $790.00.
• The Goldman Sachs Group announced a quarterly dividend increase to $4.00 per share, reflecting a 2.2% dividend yield, payable on September 29th.

Integrated Wealth Concepts LLC lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,223 shares of the investment management company's stock after selling 1,528 shares during the period. Integrated Wealth Concepts LLC's holdings in The Goldman Sachs Group were worth $7,770,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. King Wealth Management Group boosted its holdings in shares of The Goldman Sachs Group by 1.8% in the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock valued at $593,000 after purchasing an additional 19 shares during the period. Wynn Capital LLC boosted its holdings in shares of The Goldman Sachs Group by 0.3% in the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock valued at $3,211,000 after purchasing an additional 20 shares during the period. 1900 Wealth Management LLC raised its stake 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 buying an additional 20 shares in the last quarter. World Equity Group Inc. raised its stake 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 worth $1,273,000 after buying an additional 20 shares in the last quarter. Finally, Register Financial Advisors LLC raised its stake 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 worth $440,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

GS traded up $6.03 during midday trading on Wednesday, hitting $769.95. 1,967,706 shares of the company traded hands, compared to its average volume of 2,476,034. The business has a 50 day simple moving average of $725.43 and a two-hundred day simple moving average of $628.27. The company has a market capitalization of $233.08 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.58 and a beta of 1.41. 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 Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $774.47.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results 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 during the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $8.62 earnings per share. On average, equities analysts forecast 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is currently 35.26%.

Insider Activity

In related news, COO John E. Waldron sold 9,000 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the completion of the sale, the chief operating officer owned 106,268 shares of the company's stock, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the company'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 completion of the sale, the chief financial officer directly owned 18,594 shares of the company's stock, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,323 shares of company stock worth $28,111,828. Company insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Morgan Stanley boosted their price objective on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. 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. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Citigroup increased their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $660.00.

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.