Neville Rodie & Shaw Inc. Raises Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Neville Rodie & Shaw Inc. increased its stake in The Goldman Sachs Group by 11.6%, holding 7,813 shares worth approximately $5.53 million as of the latest SEC filing.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00, up from the previous $3.00, with a dividend yield of 2.0%.
• The company's quarterly earnings report showed an EPS of $10.91, exceeding expectations by $1.09, and a year-over-year revenue increase of 14.5%.

Neville Rodie & Shaw Inc. lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 11.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,813 shares of the investment management company's stock after buying an additional 815 shares during the quarter. Neville Rodie & Shaw Inc.'s holdings in The Goldman Sachs Group were worth $5,530,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. King Wealth Management Group grew its holdings in The Goldman Sachs Group by 1.8% in the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock valued at $593,000 after purchasing an additional 19 shares during the period. Raab & Moskowitz Asset Management LLC grew its holdings in The Goldman Sachs Group by 0.9% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company's stock valued at $1,104,000 after purchasing an additional 19 shares during the period. Wynn Capital LLC grew its holdings in The Goldman Sachs Group by 0.3% in the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock valued at $3,211,000 after purchasing an additional 20 shares during the period. 1900 Wealth Management LLC grew its holdings in The Goldman Sachs Group by 2.6% in the first quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock valued at $425,000 after purchasing an additional 20 shares during the period. Finally, World Equity Group Inc. grew its holdings in The Goldman Sachs Group by 0.9% in the first quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock valued at $1,273,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $780.87 on Friday. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $793.17. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $236.39 billion, a PE ratio of 17.21, a P/E/G ratio of 1.65 and a beta of 1.41. The stock has a 50 day moving average price of $728.85 and a 200 day moving average price of $631.49.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter last year, the firm earned $8.62 earnings per share. The business's revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $4.00 dividend. 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 2.0%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is 35.26%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. 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. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Morgan Stanley raised their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Wells Fargo & Company raised 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $660.00.

Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer owned 126,176 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John E. Waldron sold 9,000 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares of the company's stock, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 in the last three months. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.