Secure Asset Management LLC Has $1.27 Million Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Secure Asset Management LLC increased its stake in The Goldman Sachs Group by 40.9% during the second quarter, now holding 1,791 shares valued at approximately $1.27 million.
• The Goldman Sachs Group announced a quarterly dividend increase from $3.00 to $4.00 per share, reflecting a 2.0% yield and an annualized dividend of $16.00.
• The company's recent earnings report showed an EPS of $10.91, surpassing analyst estimates by $1.09, with revenues of $14.58 billion, up 14.5% year-over-year.

Secure Asset Management LLC raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 40.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,791 shares of the investment management company's stock after purchasing an additional 520 shares during the period. Secure Asset Management LLC's holdings in The Goldman Sachs Group were worth $1,268,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in The Goldman Sachs Group by 63,864.7% during 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 purchasing an additional 3,970,467 shares during the last quarter. Northern Trust Corp increased its stake in The Goldman Sachs Group by 1.2% during the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after purchasing an additional 40,125 shares during the last quarter. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group during the first quarter valued at $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in The Goldman Sachs Group by 6.1% during the first 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 purchasing an additional 120,272 shares during the last quarter. Finally, Amundi increased its stake in The Goldman Sachs Group by 13.6% during the first quarter. Amundi now owns 1,891,260 shares of the investment management company's stock valued at $967,193,000 after purchasing an additional 225,993 shares during the last quarter. Institutional investors own 71.21% of the company's stock.

Insider Transactions at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,244 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were 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 approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,323 shares of company stock worth $28,111,828. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Up 0.0%

Shares of GS traded up $0.14 during trading hours on Friday, reaching $804.45. The company's stock had a trading volume of 3,788,014 shares, compared to its average volume of 1,604,564. The firm has a market cap of $243.52 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.68 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $809.66. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a 50 day moving average of $738.03 and a two-hundred day moving average of $638.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $13.53 billion. During the same quarter in the prior year, the company posted $8.62 earnings per share. The firm's revenue was up 14.5% on a year-over-year basis. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Analyst Ratings Changes

Several research firms have recently commented on GS. JMP Securities restated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Citigroup upped their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Finally, Wells Fargo & Company upped their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.