Primecap Management Co. CA Sells 6,460 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Primecap Management Co. CA reduced its stake in Goldman Sachs by 3.4%, selling 6,460 shares during the first quarter, resulting in ownership of approximately 0.06% of the company valued at $101.36 million.
• Goldman Sachs recently announced an increase in its quarterly dividend from $3.00 to $4.00, with a payout ratio of 26.44% and an annualized dividend yield of 2.2%.
• The firm reported $10.91 EPS for the last quarter, exceeding estimates by $1.09, with revenue rising 14.5% year-over-year.

Primecap Management Co. CA decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 185,540 shares of the investment management company's stock after selling 6,460 shares during the period. Primecap Management Co. CA owned approximately 0.06% of The Goldman Sachs Group worth $101,359,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Hemington Wealth Management boosted its stake in The Goldman Sachs Group by 12.1% during the first quarter. Hemington Wealth Management now owns 325 shares of the investment management company's stock valued at $177,000 after buying an additional 35 shares during the period. Nicholas Hoffman & Company LLC. boosted its stake in The Goldman Sachs Group by 2.5% during the first quarter. Nicholas Hoffman & Company LLC. now owns 1,997 shares of the investment management company's stock valued at $1,091,000 after buying an additional 48 shares during the period. Leeward Financial Partners LLC boosted its stake in The Goldman Sachs Group by 2.8% during the first quarter. Leeward Financial Partners LLC now owns 9,511 shares of the investment management company's stock valued at $5,196,000 after buying an additional 257 shares during the period. WealthShield Partners LLC boosted its stake in The Goldman Sachs Group by 24.0% during the first quarter. WealthShield Partners LLC now owns 748 shares of the investment management company's stock valued at $409,000 after buying an additional 145 shares during the period. Finally, Vision Financial Markets LLC boosted its stake in The Goldman Sachs Group by 17.0% during the first quarter. Vision Financial Markets LLC now owns 516 shares of the investment management company's stock valued at $282,000 after buying an additional 75 shares during the period. Institutional investors own 71.21% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on GS shares. JMP Securities reaffirmed a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Evercore ISI set a $715.00 price target on The Goldman Sachs Group and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Finally, Barclays dropped their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $660.00.

Insider Transactions at The Goldman Sachs Group

In other 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 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 of the company's stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was 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 directly owned 18,594 shares in the company, valued at approximately $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. In the last quarter, insiders sold 20,079 shares of company stock valued at $14,423,221. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Up 0.3%

Shares of GS stock traded up $2.02 during midday trading on Friday, reaching $721.76. 1,275,362 shares of the stock were exchanged, compared to its average volume of 2,022,910. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $737.88. The firm has a market cap of $218.49 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.53 and a beta of 1.38. The company's 50 day moving average is $681.52 and its two-hundred day moving average is $614.35. The company has a current ratio of 0.67, a quick ratio of 0.68 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The firm had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the company earned $8.62 EPS. The business's revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS 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. Stockholders of record on Friday, August 29th will be given a $4.00 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend 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 is currently 26.44%.

The Goldman Sachs Group 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.