Invst LLC Purchases 2,135 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Invst LLC increased its stake in The Goldman Sachs Group by 503.5% in the first quarter, owning a total of 2,559 shares valued at approximately $1.4 million after purchasing an additional 2,135 shares.
• The Goldman Sachs Group reported earnings of $10.91 per share for the last quarter, exceeding analysts' expectations and generating revenue of $14.58 billion, up 14.5% from the previous year.
• The company declared a quarterly dividend of $4.00 per share, representing a 2.0% yield and an increase from its previous dividend of $3.00, with a payout ratio of 35.26%.

Invst LLC lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 503.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,559 shares of the investment management company's stock after purchasing an additional 2,135 shares during the quarter. Invst LLC's holdings in The Goldman Sachs Group were worth $1,398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. GAMMA Investing LLC boosted its position in shares of The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after purchasing an additional 3,970,467 shares in the last quarter. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group in the 1st quarter valued at $1,766,238,000. Nuveen LLC bought a new stake in The Goldman Sachs Group in the 1st quarter valued at $897,185,000. Assenagon Asset Management S.A. lifted its position in The Goldman Sachs Group by 102.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock valued at $8,065,000 after acquiring an additional 585,084 shares in the last quarter. Finally, Cohen Investment Advisors LLC lifted its position in The Goldman Sachs Group by 5,559.2% in the 1st quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company's stock valued at $256,876,000 after acquiring an additional 461,911 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Up 2.0%

Shares of GS stock opened at $785.23 on Friday. 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 1 year low of $439.38 and a 1 year high of $793.17. The firm's fifty day moving average price is $727.73 and its two-hundred day moving average price is $630.35. The firm has a market capitalization of $237.70 billion, a P/E ratio of 17.30, a PEG ratio of 1.61 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the business earned $8.62 EPS. The company's revenue was up 14.5% compared to the same quarter last year. On average, equities 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 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Wall Street Analyst Weigh In

Several research firms recently commented on GS. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and a consensus target price of $660.00.

Insider Buying and Selling at The Goldman Sachs Group

In other news, 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 value of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction dated 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 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. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 over the last quarter. 0.55% of the stock is currently owned by corporate insiders.

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.

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