The Goldman Sachs Group, Inc. $GS Holdings Lessened by Legacy Trust

Key Points

• Legacy Trust reduced its stake in The Goldman Sachs Group by 5.5%, owning 15,843 shares valued at approximately $11.2 million after selling 922 shares in the second quarter.
• The Goldman Sachs Group reported a quarterly earnings per share (EPS) of $10.91, exceeding estimates by $1.09, and experienced a 14.5% increase in revenue year-over-year.
• The company has announced a quarterly dividend of $4.00, reflecting a boost from the previous $3.00 dividend, which translates into an annual yield of 2.0%.

Legacy Trust lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,843 shares of the investment management company's stock after selling 922 shares during the period. The Goldman Sachs Group comprises about 2.8% of Legacy Trust's holdings, making the stock its 7th largest position. Legacy Trust's holdings in The Goldman Sachs Group were worth $11,213,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Gemmer Asset Management LLC acquired a new position in The Goldman Sachs Group during the second quarter worth approximately $229,000. Marietta Wealth Management LLC boosted its holdings in shares of The Goldman Sachs Group by 0.6% in the second quarter. Marietta Wealth Management LLC now owns 17,807 shares of the investment management company's stock valued at $12,603,000 after acquiring an additional 100 shares during the period. Simplicity Wealth LLC grew its position in shares of The Goldman Sachs Group by 4.9% during the second quarter. Simplicity Wealth LLC now owns 2,572 shares of the investment management company's stock worth $1,820,000 after acquiring an additional 120 shares during the last quarter. OLD National Bancorp IN increased its holdings in shares of The Goldman Sachs Group by 34.2% in the 2nd quarter. OLD National Bancorp IN now owns 4,249 shares of the investment management company's stock valued at $3,007,000 after acquiring an additional 1,084 shares during the period. Finally, Olistico Wealth LLC raised its position in The Goldman Sachs Group by 33.1% in the 2nd quarter. Olistico Wealth LLC now owns 1,480 shares of the investment management company's stock valued at $1,048,000 after purchasing an additional 368 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $790.32 on Friday. 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 business's 50 day moving average is $755.05 and its two-hundred day moving average is $655.73. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25. The stock has a market capitalization of $239.25 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 1.64 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same period last year, the firm earned $8.62 EPS. The company's quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a $4.00 dividend. The ex-dividend date was Friday, August 29th. 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 Goldman Sachs Group's payout ratio is 35.26%.

Wall Street Analyst Weigh In

GS has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. BMO Capital Markets began coverage on shares of The Goldman Sachs Group in a research note on Friday. They set a "market perform" rating and a $785.00 target price for the company. Morgan Stanley boosted their price target on The Goldman Sachs Group from $706.00 to $854.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a "hold" rating in a research note on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of "Hold" and a consensus price target of $717.00.

Insider Activity at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction dated 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 sale, the chief financial officer owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John E. Waldron sold 9,000 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction 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. This trade represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,323 shares of company stock worth $28,111,828 over the last three months. 0.55% of the stock is currently owned by company insiders.

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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