Price T Rowe Associates Inc. MD Has $1.96 Billion Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Price T Rowe Associates Inc. reduced its stake in The Goldman Sachs Group by 4% in Q1, owning approximately 3.58 million shares worth about $1.96 billion.
• Goldman Sachs increased its quarterly dividend from $3.00 to $4.00 per share, representing an annualized dividend yield of 2.2%.
• A variety of analysts have raised their price targets for Goldman Sachs, with Keeffe, Bruyette & Woods increasing their target from $771.00 to $790.00.

Price T Rowe Associates Inc. MD reduced its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,579,706 shares of the investment management company's stock after selling 150,633 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.17% of The Goldman Sachs Group worth $1,955,559,000 as of its most recent filing with the Securities and Exchange Commission.

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

The Goldman Sachs Group Trading Down 0.4%

Shares of The Goldman Sachs Group stock traded down $3.2860 on Monday, hitting $738.6040. 1,340,420 shares of the company's stock traded hands, compared to its average volume of 2,522,691. The firm's 50-day moving average price is $705.56 and its two-hundred day moving average price is $620.45. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $223.59 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.58 and a beta of 1.38. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $749.05.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the business posted $8.62 earnings per share. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal 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 paid a dividend of $4.00 per share. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 26.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GS shares. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. HSBC reissued 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 report on Tuesday, July 8th. Citigroup upped their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and an average target price of $660.00.

Insider Activity

In related news, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction dated 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 directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the firm'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 owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,079 shares of company stock valued at $14,423,221. 0.55% of the stock is owned by insiders.

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.