Sassicaia Capital Advisers LLC Invests $219,000 in The Goldman Sachs Group, Inc. $GS

Key Points

• Sassicaia Capital Advisers LLC has acquired 400 shares of The Goldman Sachs Group, Inc. for approximately $219,000, making it the firm's 23rd largest position.
• The Goldman Sachs Group reported a 14.5% year-over-year increase in revenue and an EPS of $10.91, surpassing analysts' expectations of $9.82, during its last quarterly earnings.
• The company has increased its quarterly dividend from $3.00 to $4.00, with a dividend yield of 2.1%, to be paid out on September 29th.

Sassicaia Capital Advisers LLC bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 400 shares of the investment management company's stock, valued at approximately $219,000. The Goldman Sachs Group makes up approximately 0.8% of Sassicaia Capital Advisers LLC's investment portfolio, making the stock its 23rd largest holding.

A number of other institutional investors have also made changes to their positions in the business. Titleist Asset Management LLC raised its holdings in shares of The Goldman Sachs Group by 34.7% in the first quarter. Titleist Asset Management LLC now owns 975 shares of the investment management company's stock valued at $533,000 after buying an additional 251 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of The Goldman Sachs Group by 1.8% in the first quarter. Baird Financial Group Inc. now owns 112,862 shares of the investment management company's stock valued at $61,655,000 after buying an additional 1,991 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of The Goldman Sachs Group by 746.4% in the first quarter. Panagora Asset Management Inc. now owns 17,995 shares of the investment management company's stock valued at $9,830,000 after buying an additional 15,869 shares during the last quarter. Aragon Global Management LP raised its holdings in shares of The Goldman Sachs Group by 384.4% in the first quarter. Aragon Global Management LP now owns 13,080 shares of the investment management company's stock valued at $7,145,000 after buying an additional 10,380 shares during the last quarter. Finally, Vident Advisory LLC raised its holdings in The Goldman Sachs Group by 262.7% during the 1st quarter. Vident Advisory LLC now owns 13,493 shares of the investment management company's stock worth $7,373,000 after purchasing an additional 9,773 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Denis P. Coleman sold 7,463 shares of the 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO John E. Waldron sold 9,000 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares of the company's stock, valued at $79,755,196.68. This represents a 7.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Down 2.1%

GS traded down $15.32 on Tuesday, hitting $729.93. 2,296,062 shares of the company were exchanged, compared to its average volume of 2,499,150. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $753.33. The company has a market cap of $220.97 billion, a PE ratio of 16.08, a PEG ratio of 1.58 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The stock's fifty day moving average is $718.92 and its 200-day moving average is $624.40.

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, topping the consensus estimate of $9.82 by $1.09. The business had revenue of $14.58 billion for 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 revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.62 earnings per share. Equities research analysts predict 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 issued a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is currently 35.26%.

Wall Street Analyst Weigh In

Several analysts have weighed in on GS shares. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Citigroup boosted their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Morgan Stanley boosted their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Finally, Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $660.00.

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.