Johnson Financial Group LLC Acquires New Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Johnson Financial Group LLC acquired a new position in The Goldman Sachs Group, purchasing 486 shares valued at approximately $265,000 in the first quarter.
• The Goldman Sachs Group reported a quarterly earnings of $10.91 EPS, beating analysts' expectations of $9.82, with revenue reaching $14.58 billion.
• The company announced a quarterly dividend increase to $4.00 per share, up from $3.00, which will be paid on September 29th, reflecting a yield of 2.2%.

Johnson Financial Group LLC purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 486 shares of the investment management company's stock, valued at approximately $265,000.

Other large investors also recently modified their holdings of the company. American Capital Advisory LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $29,000. Godsey & Gibb Inc. lifted its holdings in shares of The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Transce3nd LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth $31,000. Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at about $31,000. Finally, Lowe Wealth Advisors LLC boosted its position in The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after buying an additional 49 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Denis P. Coleman sold 7,463 shares of the business'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 completion of the sale, the chief financial officer owned 18,594 shares in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,079 shares of company stock worth $14,423,221. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 3.3%

Shares of GS traded up $23.82 during mid-day trading on Tuesday, reaching $743.06. 2,417,870 shares of the company's stock traded hands, compared to its average volume of 2,581,407. The stock's 50-day moving average is $683.94 and its two-hundred day moving average is $614.62. The stock has a market cap of $224.94 billion, a P/E ratio of 16.37, a P/E/G ratio of 1.53 and a beta of 1.38. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $748.14.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate 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 revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.62 earnings per share. Research 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's payout ratio is 26.44%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GS shares. Barclays dropped their target price on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the stock an "outperform" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus 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.