TCV Trust & Wealth Management Inc. Invests $602,000 in The Goldman Sachs Group, Inc. $GS

Key Points

• TCV Trust & Wealth Management Inc. recently acquired 850 shares of The Goldman Sachs Group, Inc., valued at approximately $602,000 in the 2nd quarter, highlighting growing interest from institutional investors.
• The Goldman Sachs Group reported earnings per share (EPS) of $10.91, exceeding analyst estimates of $9.82, with revenue of $14.58 billion, a 14.5% increase year-over-year.
• The company will pay a quarterly dividend of $4.00 per share on September 29th, up from the previous $3.00, indicating a strong financial position and commitment to returning value to shareholders.

TCV Trust & Wealth Management Inc. acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 850 shares of the investment management company's stock, valued at approximately $602,000.

Several other large investors also recently made changes to their positions in GS. Kingstone Capital Partners Texas LLC lifted its holdings in The Goldman Sachs Group by 617,504.5% during the 2nd 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 purchasing an additional 29,053,586 shares during the last quarter. GAMMA Investing LLC increased its position in shares of The Goldman Sachs Group by 63,864.7% in the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after purchasing an additional 3,970,467 shares during the period. Northern Trust Corp increased its position 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 purchasing an additional 40,125 shares during the period. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth $1,766,238,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in The Goldman Sachs Group by 6.1% in 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 acquiring an additional 120,272 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Trading Up 0.9%

Shares of GS traded up $7.44 during mid-day trading on Tuesday, hitting $813.00. 628,719 shares of the company's stock traded hands, compared to its average volume of 2,435,852. 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 Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The firm has a market capitalization of $246.11 billion, a P/E ratio of 17.89, a PEG ratio of 1.68 and a beta of 1.41. The business's 50-day moving average price is $739.87 and its 200-day moving average price is $640.52.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (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 analysts' expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business's revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.62 earnings per share. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm 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 dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. 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 dividend yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the 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 transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the topic of several research reports. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. JMP Securities reissued a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday, July 14th. HSBC reissued a "reduce" rating and issued a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Citizens Jmp reaffirmed a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Wells Fargo & Company increased their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Hold" and an average 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.