State of New Jersey Common Pension Fund D Lowers Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in The Goldman Sachs Group by 9.5%, selling 10,979 shares during the 1st quarter, with the total worth at approximately $57.44 million.
• Goldman Sachs recently declared a quarterly dividend of $4.00 per share, an increase from their previous dividend of $3.00, representing a yield of 2.1%.
• The company's stock demonstrated moderate performance with a current stock price of $747.64 and a recent earnings report that beat consensus estimates, showing $10.91 earnings per share.

State of New Jersey Common Pension Fund D cut its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 9.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,146 shares of the investment management company's stock after selling 10,979 shares during the period. State of New Jersey Common Pension Fund D's holdings in The Goldman Sachs Group were worth $57,440,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group during the first quarter worth $25,000. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group during the first quarter valued at approximately $29,000. Godsey & Gibb Inc. grew its stake in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after buying an additional 34 shares in the last quarter. Transce3nd LLC acquired a new position in shares of The Goldman Sachs Group during the 4th quarter worth about $31,000. Finally, Mascagni Wealth Management Inc. acquired a new position in The Goldman Sachs Group during the fourth quarter worth approximately $31,000. Institutional investors own 71.21% of the company's stock.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,008 shares of the company'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 owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction dated 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. The trade was a 28.64% 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 worth $14,423,221 over the last ninety days. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS traded down $3.9220 during midday trading on Wednesday, reaching $717.4580. 696,892 shares of the company traded hands, compared to its average volume of 2,537,515. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $749.05. The firm has a market capitalization of $217.19 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. 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 firm's fifty day moving average price is $699.27 and its two-hundred day moving average price is $618.86.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results 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 business had revenue of $14.58 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company earned $8.62 EPS. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.2%. 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 presently 35.26%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GS. Hsbc Global Res downgraded The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. HSBC reiterated a "reduce" rating and set a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their price target 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. One analyst has rated the stock with a Strong Buy rating, five have issued 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 company has an average rating of "Hold" and a consensus 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.