Public Sector Pension Investment Board Increases Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• The Public Sector Pension Investment Board increased its stake in The Goldman Sachs Group, holding 83,443 shares worth approximately $45.58 million as of the latest SEC filing.
• Goldman Sachs experienced positive quarterly earnings, reporting $10.91 earnings per share, surpassing the expected $9.82 and demonstrating a 14.5% revenue increase year-over-year.
• The company announced a higher quarterly dividend of $4.00 per share, compared to the previous $3.00, signaling confidence in its financial stability.

Public Sector Pension Investment Board raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,443 shares of the investment management company's stock after buying an additional 2,028 shares during the period. Public Sector Pension Investment Board's holdings in The Goldman Sachs Group were worth $45,584,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of GS. Brighton Jones LLC boosted its holdings in The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after purchasing an additional 508 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock worth $508,000 after purchasing an additional 58 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth about $583,000. Highview Capital Management LLC DE raised its holdings in shares of The Goldman Sachs Group by 4.7% in the 4th quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock worth $2,186,000 after buying an additional 171 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of The Goldman Sachs Group by 41.3% during the 4th quarter. Covestor Ltd now owns 147 shares of the investment management company's stock worth $85,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Analyst Upgrades and Downgrades

GS has been the topic of several research analyst reports. Citigroup increased their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley lifted their price target on shares of 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Stock Up 0.4%

Shares of GS traded up $2.95 on Thursday, reaching $747.64. The company's stock had a trading volume of 1,371,096 shares, compared to its average volume of 2,568,910. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $748.91. The stock has a market capitalization of $226.32 billion, a PE ratio of 16.48, a PEG ratio of 1.58 and a beta of 1.38. 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 firm has a fifty day moving average of $689.63 and a 200-day moving average of $616.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its 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 company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The Goldman Sachs Group's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $8.62 earnings per share. Equities 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. Shareholders of record on Friday, August 29th will be paid a $4.00 dividend. The ex-dividend date is Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The Goldman Sachs Group's dividend payout ratio is presently 26.44%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the 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 owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock worth $14,423,221 over the last ninety days. 0.55% of the stock is currently owned by company 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.