Sei Investments Co. Acquires 16,008 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Sei Investments Co. increased its stake in The Goldman Sachs Group, acquiring an additional 16,008 shares, bringing its total holdings to 156,127 shares, which represents 0.8% of its portfolio.
• The Goldman Sachs Group reported earnings of $10.91 per share for the latest quarter, exceeding analyst expectations of $9.82 and demonstrating a significant revenue increase to $14.58 billion.
• The company declared a quarterly dividend of $4.00, up from the previous $3.00, reflecting a strong financial performance with an annualized yield of 2.1%.

Sei Investments Co. grew its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,127 shares of the investment management company's stock after purchasing an additional 16,008 shares during the period. The Goldman Sachs Group comprises about 0.8% of Sei Investments Co.'s holdings, making the stock its 28th largest position. Sei Investments Co. owned approximately 0.05% of The Goldman Sachs Group worth $87,629,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after buying an additional 508 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after acquiring an additional 58 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $583,000. Highview Capital Management LLC DE increased its stake in shares of The Goldman Sachs Group by 4.7% in the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock worth $2,186,000 after purchasing an additional 171 shares during the period. Finally, Cohen & Steers Inc. lifted its position in shares of The Goldman Sachs Group by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 893 shares of the investment management company's stock worth $511,000 after purchasing an additional 45 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GS has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Wells Fargo & Company increased their price objective 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 restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. JMP Securities reiterated a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, HSBC restated a "reduce" rating and issued a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $660.00.

The Goldman Sachs Group Price Performance

Shares of GS stock traded down $0.25 during trading on Monday, hitting $730.47. The company had a trading volume of 1,152,329 shares, compared to its average volume of 2,553,915. The stock's 50-day moving average price is $694.80 and its 200 day moving average price is $617.51. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $749.05. 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 firm has a market capitalization of $221.13 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38.

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 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The firm 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 business's quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $4.00 per share. This is a boost 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 2.2%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is 26.44%.

Insider Buying and Selling

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the firm's 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 trade represents a 28.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares of the company's stock, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,079 shares of company stock valued at $14,423,221 over the last quarter. Insiders own 0.55% of the company's stock.

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.