OMERS ADMINISTRATION Corp Raises Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• OMERS ADMINISTRATION Corp increased its stake in The Goldman Sachs Group by 5.9% during the first quarter, raising its holdings to approximately $11.33 million after acquiring an additional 1,162 shares.
• The Goldman Sachs Group reported strong quarterly earnings of $10.91 per share, exceeding estimates and showing a 14.5% revenue increase compared to the previous year.
• The company declared a quarterly dividend of $4.00, an increase from the previous $3.00, with a dividend yield of 2.1% and an annualized dividend payout of $16.00.

OMERS ADMINISTRATION Corp lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,739 shares of the investment management company's stock after purchasing an additional 1,162 shares during the period. OMERS ADMINISTRATION Corp's holdings in The Goldman Sachs Group were worth $11,330,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth about $25,000. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group in the 1st quarter valued at about $29,000. Godsey & Gibb Inc. grew its stake in The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after buying an additional 34 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in The Goldman Sachs Group in the 4th quarter valued at about $31,000. Finally, Lowe Wealth Advisors LLC grew its stake in The Goldman Sachs Group by 326.7% in the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after buying an additional 49 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Goldman Sachs Group

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 shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the sale, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction dated Friday, July 25th. The stock was 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 of the company's stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

The Goldman Sachs Group Price Performance

NYSE:GS traded down $5.74 on Monday, hitting $745.48. The company had a trading volume of 1,466,878 shares, compared to its average volume of 1,588,065. The firm has a 50 day moving average of $716.96 and a two-hundred day moving average of $623.82. The stock has a market capitalization of $225.67 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 1.58 and a beta of 1.41. 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 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $8.62 earnings per share. On average, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $4.00 per share. 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 yield of 2.1%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is 35.26%.

Wall Street Analyst Weigh In

GS has been the topic of a number of research reports. HSBC reiterated a "reduce" rating and issued a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. 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. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Zacks Research upgraded shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, Citigroup increased their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $660.00.

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.