The Goldman Sachs Group, Inc. (NYSE:GS) Stock Position Lowered by Marco Investment Management LLC

Key Points

• Marco Investment Management LLC reduced its stake in The Goldman Sachs Group by 7.2%, resulting in ownership of 45,599 shares valued at approximately $24.91 million.
• The Goldman Sachs Group recently announced a $4.00 quarterly dividend, an increase from the previous $3.00, representing an annual yield of 2.21%.
• In the latest earnings report, The Goldman Sachs Group surpassed analysts' expectations with an earnings per share (EPS) of $10.91 and revenue of $14.58 billion.

Marco Investment Management LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 7.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 45,599 shares of the investment management company's stock after selling 3,535 shares during the period. The Goldman Sachs Group accounts for approximately 2.3% of Marco Investment Management LLC's investment portfolio, making the stock its 8th largest holding. Marco Investment Management LLC's holdings in The Goldman Sachs Group were worth $24,910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GS. Brighton Jones LLC grew its stake in The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after acquiring an additional 508 shares during the period. Revolve Wealth Partners LLC grew its stake in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after acquiring an additional 58 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in The Goldman Sachs Group in the fourth quarter valued at about $583,000. Highview Capital Management LLC DE grew its stake in The Goldman Sachs Group by 4.7% in the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock valued at $2,186,000 after acquiring an additional 171 shares during the period. Finally, Schroder Investment Management Group boosted its position in shares of The Goldman Sachs Group by 143.5% during the fourth quarter. Schroder Investment Management Group now owns 174,815 shares of the investment management company's stock worth $100,103,000 after buying an additional 103,030 shares during the period. Institutional investors own 71.21% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GS shares. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Barclays lowered their target price on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Daiwa America lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $660.00.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock traded down $12.08 during trading hours on Friday, reaching $711.51. The company had a trading volume of 2,094,972 shares, compared to its average volume of 2,619,571. The Goldman Sachs Group, Inc. has a one year low of $437.37 and a one year high of $737.88. The business has a fifty day simple moving average of $667.61 and a 200 day simple moving average of $609.90. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68. The firm has a market cap of $218.32 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The company had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the business posted $8.62 earnings per share. The firm's revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate 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. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.2%. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

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 firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the firm'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 owned 18,594 shares in the company, valued at $13,469,493.60. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,079 shares of company stock worth $14,423,221 over the last 90 days. Corporate insiders own 0.55% of the company's stock.

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.