OFI Invest Asset Management Grows Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• OFI Invest Asset Management increased its stake in The Goldman Sachs Group by 10.7% in Q2, acquiring 5,644 additional shares, bringing its total to 58,580 shares valued at approximately $41.46 million.
• Insider trading saw key executives selling significant portions of their stock, with EVP John F.W. Rogers and COO John E. Waldron selling 6,008 and 9,000 shares respectively, representing decreases of 8.37% and 7.81% in their holdings.
• The Goldman Sachs Group recently announced a quarterly dividend increase from $3.00 to $4.00, reflecting a positive financial outlook with a payout ratio of 35.26%.

OFI Invest Asset Management boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 10.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,580 shares of the investment management company's stock after acquiring an additional 5,644 shares during the period. OFI Invest Asset Management's holdings in The Goldman Sachs Group were worth $41,460,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group in the first quarter worth about $25,000. Dogwood Wealth Management LLC raised its position in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after acquiring an additional 36 shares during the period. American Capital Advisory LLC bought a new stake in The Goldman Sachs Group in the first quarter worth about $29,000. Cornerstone Planning Group LLC raised its position in The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after acquiring an additional 23 shares during the period. Finally, Ridgewood Investments LLC raised its position in shares of The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after purchasing an additional 17 shares during the period. Institutional investors own 71.21% of the company's stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John E. Waldron sold 9,000 shares of the company's stock in a transaction on 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 completion of the sale, 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. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 over the last 90 days. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $765.14 on Friday. The company has a 50 day moving average of $760.79 and a 200 day moving average of $662.94. The stock has a market cap of $231.62 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.44 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly 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 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 during the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the previous year, the company earned $8.62 EPS. The business's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a $4.00 dividend. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Analyst Ratings Changes

Several analysts have recently issued reports on GS shares. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. BMO Capital Markets started coverage on shares of The Goldman Sachs Group in a research report on Friday, October 3rd. They issued a "market perform" rating and a $785.00 price target on the stock. JMP Securities reissued a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Citigroup boosted 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 report on Monday, July 21st. Finally, Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $727.31.

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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