The Goldman Sachs Group, Inc. $GS Position Trimmed by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC has reduced its stake in The Goldman Sachs Group by 2.5%, now holding 84,398 shares valued at approximately $46.1 million.
• Goldman Sachs' recent earnings report revealed a $10.91 EPS, exceeding expectations by $1.09, with revenues of $14.58 billion for the quarter.
• The firm has declared a quarterly dividend of $4.00 per share, an increase from the previous $3.00, representing a 2.2% dividend yield.

MetLife Investment Management LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 2.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,398 shares of the investment management company's stock after selling 2,208 shares during the period. MetLife Investment Management LLC's holdings in The Goldman Sachs Group were worth $46,106,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group during the first quarter worth approximately $25,000. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Godsey & Gibb Inc. grew its position in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in The Goldman Sachs Group during the 4th quarter worth approximately $31,000. Finally, Lowe Wealth Advisors LLC grew its position in The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after purchasing an additional 49 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. HSBC reiterated a "reduce" rating and set a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $660.00.

The Goldman Sachs Group Trading Up 3.6%

Shares of NYSE:GS opened at $741.8440 on Friday. The firm has a fifty day moving average of $705.56 and a two-hundred day moving average of $620.70. The firm has a market capitalization of $224.57 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.58 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $749.05. 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 (NYSE:GS - Get Free Report) last released its quarterly 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 business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The Goldman Sachs Group's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $8.62 EPS. On average, equities analysts expect 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 is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is 26.44%.

Insider Activity

In other news, CEO David M. Solomon sold 6,608 shares of the firm's 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,079 shares of company stock worth $14,423,221. 0.55% of the stock is owned by corporate 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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