Malaga Cove Capital LLC Sells 576 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Malaga Cove Capital LLC reduced its stake in The Goldman Sachs Group by 14.7%, holding 3,354 shares worth $1.83 million after selling 576 shares in the first quarter.
• A significant number of institutional investors have adjusted their positions in Goldman Sachs, contributing to approximately 71.21% of the stock being owned by institutional investors and hedge funds.
• The Goldman Sachs Group recently announced an increase in its quarterly dividend from $3.00 to $4.00 per share, reflecting a yield of 2.3% and a payout ratio of 26.44%.

Malaga Cove Capital LLC lowered its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,354 shares of the investment management company's stock after selling 576 shares during the period. Malaga Cove Capital LLC's holdings in The Goldman Sachs Group were worth $1,832,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GS. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group in the first quarter valued at approximately $29,000. Godsey & Gibb Inc. grew its stake in The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after acquiring an additional 34 shares during the period. Transce3nd LLC acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. Mascagni Wealth Management Inc. acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. Finally, Lowe Wealth Advisors LLC grew its stake in The Goldman Sachs Group by 326.7% in the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after acquiring an additional 49 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. JMP Securities reaffirmed a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Wells Fargo & Company lifted their target price on 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 lifted their target price on 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 equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, The Goldman Sachs Group has a consensus rating of "Hold" and an average price target of $660.00.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock traded down $14.19 during mid-day trading on Friday, reaching $709.40. 2,997,787 shares of the company's stock were exchanged, compared to its average volume of 2,165,566. The business's fifty day simple moving average is $669.82 and its 200 day simple moving average is $610.88. The firm has a market capitalization of $217.67 billion, a PE ratio of 15.63, a P/E/G ratio of 1.51 and a beta of 1.38. The Goldman Sachs Group, Inc. has a one year low of $437.37 and a one year high of $737.88. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26.

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 EPS for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $8.62 earnings per share. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced 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. The ex-dividend date is Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.3%. The Goldman Sachs Group's dividend payout ratio is presently 26.44%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was 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. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock worth $14,423,221 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group 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.