Marvin & Palmer Associates Inc. Has $3.07 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Marvin & Palmer Associates Inc. decreased its stake in The Goldman Sachs Group by 57.5%, holding approximately $3.07 million in stocks after selling 7,579 shares in the first quarter.
• The Goldman Sachs Group reported a quarterly earnings of $10.91 EPS, surpassing analysts' expectations by $1.09, with a revenue of $14.58 billion for the quarter.
• The company announced an increase in its quarterly dividend to $4.00, resulting in a new annualized dividend yield of 2.20%, compared to the previous dividend of $3.00.

Marvin & Palmer Associates Inc. cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 57.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,612 shares of the investment management company's stock after selling 7,579 shares during the period. The Goldman Sachs Group comprises approximately 4.6% of Marvin & Palmer Associates Inc.'s investment portfolio, making the stock its 12th biggest holding. Marvin & Palmer Associates Inc.'s holdings in The Goldman Sachs Group were worth $3,066,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Capital Advisory LLC bought a new stake in The Goldman Sachs Group during the first quarter worth $29,000. Godsey & Gibb Inc. raised its position in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares in the last quarter. Transce3nd LLC bought a new stake in The Goldman Sachs Group during the fourth quarter worth $31,000. Mascagni Wealth Management Inc. bought a new stake in The Goldman Sachs Group during the fourth quarter worth $31,000. Finally, Lowe Wealth Advisors LLC raised 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 worth $35,000 after acquiring an additional 49 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Trading Up 1.3%

Shares of The Goldman Sachs Group stock opened at $728.63 on Monday. The company has a market capitalization of $223.57 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.55 and a beta of 1.35. 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, Inc. has a 12-month low of $437.37 and a 12-month high of $729.89. The firm's 50-day moving average price is $657.60 and its two-hundred day moving average price is $605.94.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its 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 firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 13.84%. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.62 earnings per share. On average, 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 business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $4.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.20%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is 26.44%.

Insider Transactions at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction that occurred on 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 approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,079 shares of company stock valued at $14,423,221. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GS shares. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a report on Thursday, July 10th. Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective on the stock. in a report on Friday, April 4th. HSBC reiterated a "reduce" rating and issued a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. JPMorgan Chase & Co. decreased their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Finally, Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $660.00.

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.

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