Rathbones Group PLC Acquires 72,711 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Rathbones Group PLC increased its stake in The Goldman Sachs Group by 53.7% during the first quarter, owning 208,182 shares valued at approximately $113.7 million.
• The Goldman Sachs Group announced a quarterly dividend of $4.00 per share, up from the previous $3.00, with an ex-dividend date set for August 29th.
• Recent insider trades included EVP John F.W. Rogers selling 6,008 shares and CFO Denis P. Coleman selling 7,463 shares, indicating significant decreases in their ownership positions.

Rathbones Group PLC grew its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 53.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,182 shares of the investment management company's stock after purchasing an additional 72,711 shares during the period. Rathbones Group PLC owned about 0.07% of The Goldman Sachs Group worth $113,728,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of The Goldman Sachs Group in the 1st quarter worth $546,000. Saiph Capital LLC boosted its stake in shares of The Goldman Sachs Group by 2.6% in the 1st quarter. Saiph Capital LLC now owns 2,430 shares of the investment management company's stock worth $1,327,000 after buying an additional 61 shares during the last quarter. Rossmore Private Capital boosted its stake in shares of The Goldman Sachs Group by 1.5% in the 1st quarter. Rossmore Private Capital now owns 1,365 shares of the investment management company's stock worth $745,000 after buying an additional 20 shares during the last quarter. AGF Management Ltd. boosted its stake in shares of The Goldman Sachs Group by 16.0% in the 1st quarter. AGF Management Ltd. now owns 19,188 shares of the investment management company's stock worth $10,482,000 after buying an additional 2,644 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of The Goldman Sachs Group by 2.5% in the 1st quarter. Public Sector Pension Investment Board now owns 83,443 shares of the investment management company's stock worth $45,584,000 after buying an additional 2,028 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of GS stock traded up $2.95 during trading hours on Thursday, hitting $747.64. The 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 one year low of $439.38 and a one year high of $748.91. 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's 50-day moving average price is $689.63 and its two-hundred day moving average price is $616.41. The stock has a market capitalization of $226.32 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.58 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the previous year, the firm posted $8.62 earnings per share. The business's revenue was up 14.5% compared to the same quarter last year. Equities analysts forecast 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. 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 is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.1%. The Goldman Sachs Group's payout ratio is presently 26.44%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was 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 of the company's stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 in the company, valued at $47,176,283.79. The trade was a 8.37% 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 valued at $14,423,221 over the last ninety days. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" 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. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an "outperform" rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $660.00.

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.