The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management significantly reduced its investment in The Goldman Sachs Group by 91.5%, ending up with a position worth approximately $1.72 million after selling 33,779 shares.
• Several hedge funds made new investments in The Goldman Sachs Group, with notable stakes including $31,000 from Mascagni Wealth Management and a 326.7% increase in holdings by Lowe Wealth Advisors.
• The Goldman Sachs Group recently declared a quarterly dividend of $4.00 per share, marking an increase from the previous dividend of $3.00, and a yield of 2.19%.

Picton Mahoney Asset Management decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 91.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,140 shares of the investment management company's stock after selling 33,779 shares during the quarter. Picton Mahoney Asset Management's holdings in The Goldman Sachs Group were worth $1,715,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group during the first quarter worth approximately $29,000. Godsey & Gibb Inc. lifted its stake in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Transce3nd LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $31,000. Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $31,000. Finally, Lowe Wealth Advisors LLC lifted its stake in The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded down $7.20 during trading on Thursday, reaching $723.55. The company's stock had a trading volume of 2,356,023 shares, compared to its average volume of 1,972,809. The company has a quick ratio of 0.68, a current ratio of 1.12 and a debt-to-equity ratio of 2.26. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $737.88. The company has a market capitalization of $222.01 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The business has a 50 day moving average price of $667.61 and a 200-day moving average price of $609.90.

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, beating analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The firm had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the business earned $8.62 earnings per share. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 26.44%.

Insider Activity

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 stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the sale, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,079 shares of company stock worth $14,423,221 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GS has been the topic of several research analyst reports. Morgan Stanley lifted their price target on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Daiwa America lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, JPMorgan Chase & Co. cut their price target on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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.