Nissay Asset Management Corp Japan ADV Sells 61,751 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Nissay Asset Management Corp Japan ADV sold 61,751 shares of The Goldman Sachs Group, reducing its stake by 45.9%, leaving it with 72,689 shares valued at approximately $39.7 million.
• The Goldman Sachs Group reported earnings of $10.91 per share for the last quarter, exceeding analysts' expectations, with a revenue of $14.58 billion, a 14.5% increase year-over-year.
• The firm declared a quarterly dividend of $4.00, up from $3.00, which translates to an annual yield of 2.1% for shareholders of record.

Nissay Asset Management Corp Japan ADV reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 45.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,689 shares of the investment management company's stock after selling 61,751 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in The Goldman Sachs Group were worth $39,709,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. King Wealth Management Group lifted its position in The Goldman Sachs Group by 1.8% in the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock valued at $593,000 after acquiring an additional 19 shares in the last quarter. Wynn Capital LLC lifted its position in The Goldman Sachs Group by 0.3% in the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock valued at $3,211,000 after acquiring an additional 20 shares in the last quarter. 1900 Wealth Management LLC lifted its position in The Goldman Sachs Group by 2.6% in the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock valued at $425,000 after acquiring an additional 20 shares in the last quarter. Register Financial Advisors LLC lifted its position in The Goldman Sachs Group by 2.5% in the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock valued at $440,000 after acquiring an additional 20 shares in the last quarter. Finally, World Equity Group Inc. lifted its position in The Goldman Sachs Group by 0.9% in the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock valued at $1,273,000 after acquiring an additional 20 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Trading Up 2.4%

Shares of GS stock opened at $748.08 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $753.33. 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 firm has a market capitalization of $226.46 billion, a PE ratio of 16.48, a PEG ratio of 1.55 and a beta of 1.41. The stock has a fifty day simple moving average of $722.66 and a two-hundred day simple moving average of $626.45.

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 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 14.32% and a net margin of 12.37%.The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the business posted $8.62 EPS. The Goldman Sachs Group's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared 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. This represents a $16.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 35.26%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were 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 of the company's stock, valued at $89,876,426.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John E. Waldron sold 9,000 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the transaction, the chief operating officer directly owned 106,268 shares of the company's stock, valued at $79,755,196.68. This trade represents a 7.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GS. Citigroup boosted their target price 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 target price on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. JMP Securities reiterated a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Wells Fargo & Company boosted their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. One equities research 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. According to MarketBeat.com, the company presently has a consensus 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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