Pacer Advisors Inc. Sells 6,192 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Pacer Advisors Inc. decreased its stake in The Goldman Sachs Group by 17.1% after selling 6,192 shares, leaving them with a total of 30,052 shares valued at approximately $16.4 million.
• The Goldman Sachs Group reported $10.91 EPS for the most recent quarter, surpassing expectations, alongside a revenue rise of 14.5% year-over-year to $14.58 billion.
• The firm recently announced a dividend increase to $4.00 per share, up from $3.00, reflecting a 2.20% yield, with the payment scheduled for September 29th.

Pacer Advisors Inc. lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 17.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,052 shares of the investment management company's stock after selling 6,192 shares during the quarter. Pacer Advisors Inc.'s holdings in The Goldman Sachs Group were worth $16,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in GS. Wynn Capital LLC boosted its holdings in shares of 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 acquiring an additional 20 shares in the last quarter. 1900 Wealth Management LLC boosted its stake 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 worth $425,000 after purchasing an additional 20 shares during the period. World Equity Group Inc. boosted its stake 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 worth $1,273,000 after purchasing an additional 20 shares during the period. Register Financial Advisors LLC boosted its stake 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 worth $440,000 after purchasing an additional 20 shares during the period. Finally, Continuum Advisory LLC boosted its stake in The Goldman Sachs Group by 6.7% in the 1st quarter. Continuum Advisory LLC now owns 318 shares of the investment management company's stock worth $174,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Buying and Selling

In related news, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,079 shares of company stock valued at $14,423,221 over the last ninety days. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Trading Up 0.0%

Shares of GS traded up $0.25 on Wednesday, reaching $732.23. 417,493 shares of the company's stock were exchanged, compared to its average volume of 2,615,242. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26. The stock has a market capitalization of $224.68 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 1.54 and a beta of 1.35. The business has a 50 day moving average price of $662.35 and a two-hundred day moving average price of $607.95. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $737.88.

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 earnings per share for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The business 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 13.84%. The Goldman Sachs Group's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.62 earnings per share. 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 firm also recently declared 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 represents a $16.00 dividend on an annualized basis and a dividend yield of 2.19%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is 26.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HSBC reiterated a "reduce" rating and issued a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 target price on the stock. in a report on Friday, April 4th. Finally, Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Company 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.