MontVue Capital Management Inc. Invests $229,000 in The Goldman Sachs Group, Inc. $GS

Key Points

• MontVue Capital Management Inc. invested $229,000 in The Goldman Sachs Group by acquiring 323 shares in the second quarter.
• The Goldman Sachs Group reported earnings of $10.91 per share for the last quarter, surpassing estimates and showing a 14.5% year-over-year revenue increase.
• The company recently announced an increase in its quarterly dividend from $3.00 to $4.00, reflecting a 2.0% dividend yield.

MontVue Capital Management Inc. bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 323 shares of the investment management company's stock, valued at approximately $229,000.

Several other hedge funds have also recently modified their holdings of GS. Kingstone Capital Partners Texas LLC lifted its holdings in shares of The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock worth $20,566,005,000 after buying an additional 29,053,586 shares in the last quarter. GAMMA Investing LLC raised its stake in The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock valued at $2,172,423,000 after purchasing an additional 3,970,467 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in The Goldman Sachs Group during the first quarter valued at $1,766,238,000. Nuveen LLC purchased a new stake in The Goldman Sachs Group during the first quarter valued at $897,185,000. Finally, Assenagon Asset Management S.A. raised its stake in The Goldman Sachs Group by 102.6% during the first quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock valued at $8,065,000 after purchasing an additional 585,084 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Trading Up 0.3%

Shares of GS opened at $794.75 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The company has a market cap of $240.59 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.65 and a beta of 1.41. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The company's fifty day simple moving average is $745.43 and its 200-day simple moving average is $644.54.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its 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 Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm posted $8.62 earnings per share. The business's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared 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 is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. 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 (DPR) is currently 35.26%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Keefe, Bruyette & Woods upped 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. Citigroup upped 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. Evercore ISI set a $715.00 price target on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Finally, Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $665.00.

Insider Activity at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 7,463 shares of the company'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 transaction, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the company'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 completion of the transaction, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. Company 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.

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