Quarry LP Takes $601,000 Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Quarry LP acquired a new stake in The Goldman Sachs Group, purchasing 1,100 shares valued at around $601,000 during the first quarter.
• Goldman Sachs reported earnings of $10.91 per share for the last quarter, exceeding analysts' expectations and experiencing a 14.5% year-over-year revenue increase.
• The company announced an increase in its quarterly dividend from $3.00 to $4.00, with a dividend yield of 2.1% and a payout ratio of 26.44%.

Quarry LP acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,100 shares of the investment management company's stock, valued at approximately $601,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GS. GAMMA Investing LLC boosted its holdings in shares of The Goldman Sachs Group by 63,864.7% in the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock valued at $2,172,423,000 after acquiring an additional 3,970,467 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of The Goldman Sachs Group in the first quarter valued at approximately $1,766,238,000. Castlekeep Investment Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $944,334,000. Nuveen LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $897,185,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of The Goldman Sachs Group by 214.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company's stock worth $741,018,000 after purchasing an additional 882,099 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares of the company's stock, valued at $86,463,679.48. This represents a 7.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the transaction, the chief executive officer owned 126,176 shares in the company, valued at $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. In the last quarter, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Trading Down 2.1%

NYSE:GS traded down $15.32 on Tuesday, reaching $729.93. The stock had a trading volume of 2,296,062 shares, compared to its average volume of 1,500,379. The company has a market cap of $220.97 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 1.58 and a beta of 1.41. 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 firm's fifty day moving average is $720.29 and its two-hundred day moving average is $625.14. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $753.33.

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 analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $8.62 EPS. Equities 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 firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted 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. JMP Securities reissued a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Morgan Stanley boosted 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 note on Thursday, July 17th. Finally, Citizens Jmp reissued 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 assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and a consensus target price of $660.00.

About The Goldman Sachs Group

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.