Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in The Goldman Sachs Group by 6.1%, acquiring an additional 16,418 shares, bringing its total to 285,188 shares valued at approximately $201.8 million.
• Goldman Sachs' most recent earnings report revealed an EPS of $10.91, surpassing estimates and reflecting a year-over-year revenue increase of 14.5%.
• The company announced a quarterly dividend increase to $4.00 per share, up from a previous $3.00, representing an annual yield of 2.0% and a payout ratio of 35.26%.

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 285,188 shares of the investment management company's stock after purchasing an additional 16,418 shares during the period. The Goldman Sachs Group accounts for 1.8% of Sumitomo Mitsui DS Asset Management Company Ltd's holdings, making the stock its 7th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd owned 0.09% of The Goldman Sachs Group worth $201,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GS. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group in the first quarter valued at $25,000. American Capital Advisory LLC bought a new stake in shares of The Goldman Sachs Group during the first quarter worth about $29,000. Godsey & Gibb Inc. increased its position in shares of The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after acquiring an additional 34 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group during the fourth quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC increased its position in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after acquiring an additional 49 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Performance

GS traded up $0.14 during midday trading on Friday, reaching $804.45. The company had a trading volume of 3,788,014 shares, compared to its average volume of 1,604,564. 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 has a market cap of $243.52 billion, a PE 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 12-month low of $439.38 and a 12-month high of $809.66. The business has a 50-day moving average price of $738.03 and a two-hundred day moving average price of $638.00.

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 for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion for 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 company's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $8.62 earnings per share. On average, sell-side 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 business also recently declared 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 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 currently 35.26%.

Insider Activity at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares of the company's stock, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% 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. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GS shares. Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Zacks Research downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Finally, JMP Securities reissued 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. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, The Goldman Sachs Group has an average rating of "Hold" and a consensus price target 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.