The Goldman Sachs Group, Inc. $GS Position Increased by Glenview Trust co

Key Points

• Glenview Trust Co increased its holdings in The Goldman Sachs Group by 1.8%, acquiring a total of 95,246 shares valued at approximately $52 million, making it the 23rd largest holding in its portfolio.
• The company recently reported earnings per share (EPS) of $10.91, exceeding analysts' estimates of $9.82, with a revenue of $14.58 billion for the quarter, marking a 14.5% year-over-year increase.
• The Goldman Sachs Group announced a quarterly dividend increase from $3.00 to $4.00 per share, reflecting a 2.1% yield and a dividend payout ratio of 35.26%.

Glenview Trust co increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,246 shares of the investment management company's stock after buying an additional 1,646 shares during the quarter. The Goldman Sachs Group comprises 1.0% of Glenview Trust co's portfolio, making the stock its 23rd largest holding. Glenview Trust co's holdings in The Goldman Sachs Group were worth $52,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Advisory Alpha LLC grew its holdings in The Goldman Sachs Group by 4.7% in the 1st quarter. Advisory Alpha LLC now owns 512 shares of the investment management company's stock worth $280,000 after buying an additional 23 shares in the last quarter. Trinity Financial Advisors LLC raised its position in shares of The Goldman Sachs Group by 9.0% during the 1st quarter. Trinity Financial Advisors LLC now owns 644 shares of the investment management company's stock worth $329,000 after buying an additional 53 shares in the last quarter. Game Plan Financial Advisors LLC raised its position in shares of The Goldman Sachs Group by 20.3% during the 1st quarter. Game Plan Financial Advisors LLC now owns 6,072 shares of the investment management company's stock worth $3,317,000 after buying an additional 1,025 shares in the last quarter. SCS Capital Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $8,788,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of The Goldman Sachs Group by 6.1% during 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 buying an additional 120,272 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

Shares of GS traded down $3.86 during trading hours on Friday, hitting $780.87. 1,099,323 shares of the company were exchanged, compared to its average volume of 1,620,895. The company has a market capitalization of $236.39 billion, a PE ratio of 17.21, a PEG ratio of 1.65 and a beta of 1.41. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a fifty day simple moving average of $728.85 and a 200-day simple moving average of $631.58. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $793.17.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.62 earnings per share. As a group, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $4.00 dividend. The ex-dividend date 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 related news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This represents a 4.98% 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. Company insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Citigroup raised their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Zacks Research raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research note on Thursday, July 17th. One research 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. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus price target of $660.00.

About The Goldman Sachs Group

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.