The Goldman Sachs Group, Inc. $GS Shares Sold by SeaCrest Wealth Management LLC

Key Points

• SeaCrest Wealth Management LLC reduced its holdings in The Goldman Sachs Group by 30.7%, owning 1,570 shares valued at approximately $1.1 million after selling 697 shares in the second quarter.
• The company announced a quarterly dividend increase from $3.00 to $4.00 per share, set to be paid on September 29, which represents an annual yield of 2.0%.
• Goldman Sachs reported earnings of $10.91 per share, exceeding analysts' expectations and showing a 14.5% increase in revenue compared to the same quarter last year.

SeaCrest Wealth Management LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 30.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,570 shares of the investment management company's stock after selling 697 shares during the quarter. SeaCrest Wealth Management LLC's holdings in The Goldman Sachs Group were worth $1,111,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC boosted its position in shares of The Goldman Sachs Group by 617,504.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock valued at $20,566,005,000 after acquiring an additional 29,053,586 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of The Goldman Sachs Group by 63,864.7% during the 1st 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 during the last quarter. Northern Trust Corp boosted its position in shares of The Goldman Sachs Group by 1.2% during the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after acquiring an additional 40,125 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at about $1,766,238,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of The Goldman Sachs Group by 6.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company's stock valued at $1,138,527,000 after acquiring an additional 120,272 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Insiders Place Their Bets

In other news, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction 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 $13,469,493.60. This trade represents a 28.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John E. Waldron sold 9,000 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares of the company's stock, valued at $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 over the last quarter. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Down 0.3%

Shares of NYSE:GS traded down $2.56 on Tuesday, reaching $803.00. The company had a trading volume of 889,465 shares, compared to its average volume of 2,437,211. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The firm's 50 day simple moving average is $739.87 and its 200-day simple moving average is $640.52. The firm has a market capitalization of $243.08 billion, a PE ratio of 17.70, a PEG ratio of 1.68 and a beta of 1.41. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $8.62 EPS. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed 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. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is 35.26%.

Analysts Set New Price Targets

GS has been the subject of a number of recent research reports. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Zacks Research downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley boosted their target price on 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. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average target price of $665.00.

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.