The Goldman Sachs Group, Inc. (NYSE:GS) Shares Purchased by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in The Goldman Sachs Group by 12.3% to a total of 207,659 shares, valued at $113,442,000.
• The Goldman Sachs Group reported strong quarterly earnings with a EPS of $10.91, above expectations, and revenue reaching $14.58 billion, a 14.5% increase year-over-year.
• The firm announced a dividend increase to $4.00 per share, up from the previous $3.00, representing a 2.20% dividend yield.

TD Asset Management Inc boosted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,659 shares of the investment management company's stock after acquiring an additional 22,773 shares during the period. TD Asset Management Inc owned 0.07% of The Goldman Sachs Group worth $113,442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group during the first quarter worth $29,000. Godsey & Gibb Inc. lifted its stake 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 buying an additional 34 shares during the period. Transce3nd LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $31,000. Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $31,000. Finally, Lowe Wealth Advisors LLC lifted its stake 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 buying an additional 49 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

Insider Activity

In other news, 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 value of $4,706,944.48. Following the completion of the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at $89,876,426.56. This represents a 4.98% 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 stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the sale, the chief financial officer directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 20,079 shares of company stock valued at $14,423,221 in the last 90 days. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

NYSE GS traded up $2.35 during trading hours on Wednesday, hitting $734.33. 567,096 shares of the company's stock traded hands, compared to its average volume of 2,616,171. The Goldman Sachs Group, Inc. has a 52-week low of $437.37 and a 52-week high of $737.88. The company has a market capitalization of $225.32 billion, a PE ratio of 16.18, a PEG ratio of 1.54 and a beta of 1.35. The company has a debt-to-equity ratio of 2.26, a current ratio of 1.12 and a quick ratio of 0.68. The firm's 50-day moving average is $662.35 and its 200-day moving average is $607.95.

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 earnings per share (EPS) for the quarter, beating 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 13.84%. The company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the prior year, the company earned $8.62 EPS. The Goldman Sachs Group's revenue was up 14.5% compared to the same quarter last year. Equities 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 disclosed 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 represents a $16.00 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is currently 26.44%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GS shares. Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Daiwa America cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Citigroup raised their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus target price 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.