Livforsakringsbolaget Skandia Omsesidigt Increases Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in The Goldman Sachs Group by 98.9% in Q2, now holding $46.25 million, making it the 19th largest position in their portfolio.
• The Goldman Sachs Group reported Q2 earnings of $10.91 per share, exceeding estimates by $1.09, with revenue of $14.58 billion, a 14.5% increase from the previous year.
• The company declared a quarterly dividend of $4.00 per share, translating to an annual yield of 2.0%, up from the previous dividend of $3.00.

Livforsakringsbolaget Skandia Omsesidigt raised its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 98.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,345 shares of the investment management company's stock after acquiring an additional 32,489 shares during the quarter. The Goldman Sachs Group makes up about 0.1% of Livforsakringsbolaget Skandia Omsesidigt's investment portfolio, making the stock its 19th largest holding. Livforsakringsbolaget Skandia Omsesidigt's holdings in The Goldman Sachs Group were worth $46,248,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Sandy Cove Advisors LLC raised its position in shares of The Goldman Sachs Group by 4.4% in the second quarter. Sandy Cove Advisors LLC now owns 893 shares of the investment management company's stock valued at $632,000 after purchasing an additional 38 shares during the period. Parisi Gray Wealth Management increased its holdings in The Goldman Sachs Group by 2.5% in the 2nd quarter. Parisi Gray Wealth Management now owns 5,983 shares of the investment management company's stock valued at $4,235,000 after buying an additional 145 shares during the period. Davis Investment Partners LLC increased its holdings in The Goldman Sachs Group by 4.7% in the 2nd quarter. Davis Investment Partners LLC now owns 940 shares of the investment management company's stock valued at $664,000 after buying an additional 42 shares during the period. Atwood & Palmer Inc. increased its holdings in The Goldman Sachs Group by 40,225.6% in the 2nd quarter. Atwood & Palmer Inc. now owns 33,067 shares of the investment management company's stock valued at $23,403,000 after buying an additional 32,985 shares during the period. Finally, D. Scott Neal Inc. bought a new position in The Goldman Sachs Group in the 2nd quarter valued at about $212,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Performance

NYSE:GS traded up $0.14 on Friday, reaching $804.45. 3,781,362 shares of the company's stock were exchanged, compared to its average volume of 2,453,109. 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 firm has a market cap of $243.52 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.66 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $809.66. The stock has a fifty day simple moving average of $736.02 and a 200-day simple moving average of $636.45.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion for 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 for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $8.62 earnings per share. As a group, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed 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 boost 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 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is presently 35.26%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GS shares. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a report on Tuesday. Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Citigroup raised 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 note on Monday, July 21st. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of "Hold" and an average target price of $665.00.

Insiders Place Their Bets

In related news, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, August 27th. The shares were 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 of the company's stock, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by company 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.