TB Alternative Assets Ltd. Makes New Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• TB Alternative Assets Ltd. acquired a new stake in The Goldman Sachs Group by purchasing 2,000 shares valued at approximately $1.4 million during the second quarter.
• The Goldman Sachs Group's recent quarterly earnings exceeded estimates, reporting an EPS of $10.91 against a consensus of $9.82, with revenue of $14.58 billion, a 14.5% increase year-over-year.
• The company announced a quarterly dividend increase from $3.00 to $4.00 per share, reflecting a 2.0% dividend yield and a payout ratio of 35.26%.

TB Alternative Assets Ltd. purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,000 shares of the investment management company's stock, valued at approximately $1,416,000.

Other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its holdings in The Goldman Sachs Group by 617,504.5% in the second 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 grew its holdings in shares of The Goldman Sachs Group by 63,864.7% in 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 buying an additional 3,970,467 shares during the period. Northern Trust Corp increased its holdings in shares of The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock worth $1,820,677,000 after acquiring an additional 40,125 shares in the last quarter. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $1,766,238,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in The Goldman Sachs Group by 6.1% in 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 worth $1,138,527,000 after purchasing an additional 120,272 shares during the period. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 1.6%

NYSE GS opened at $793.50 on Thursday. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The firm has a market capitalization of $240.21 billion, a P/E ratio of 17.49, a PEG ratio of 1.68 and a beta of 1.41. The business has a fifty day simple moving average of $743.66 and a 200 day simple moving average of $642.72. 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 announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm posted $8.62 earnings per share. The company's revenue for the quarter was up 14.5% on a year-over-year basis. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is currently 35.26%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the completion of the transaction, the chief operating officer directly owned 106,268 shares of the company's stock, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction 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. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GS has been the topic of several analyst reports. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a research report on Thursday, July 10th. HSBC reaffirmed a "reduce" rating and set a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Zacks Research downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. Finally, Wells Fargo & Company lifted their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $665.00.

The Goldman Sachs Group 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.

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