The Goldman Sachs Group, Inc. $GS Shares Bought by Steel Grove Capital Advisors LLC

Key Points

• Steel Grove Capital Advisors LLC increased its stake in The Goldman Sachs Group, Inc. by 1,302.1% in Q2, acquiring an additional 19,961 shares, bringing its total to 21,494 shares valued at approximately $15.2 million.
• The Goldman Sachs Group reported an EPS of $12.25 for the last quarter, surpassing expectations of $10.27, with a revenue of $11.33 billion compared to a consensus estimate of $13.68 billion.
• The company announced a quarterly dividend of $4.00 per share, payable on December 30th, representing an annualized dividend yield of 2.1%.

Steel Grove Capital Advisors LLC grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1,302.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,494 shares of the investment management company's stock after buying an additional 19,961 shares during the period. The Goldman Sachs Group makes up approximately 1.8% of Steel Grove Capital Advisors LLC's holdings, making the stock its 10th biggest position. Steel Grove Capital Advisors LLC's holdings in The Goldman Sachs Group were worth $15,212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC lifted its position in shares of The Goldman Sachs Group by 617,504.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock worth $20,566,005,000 after buying an additional 29,053,586 shares during the last quarter. Northern Trust Corp lifted its position in shares of The Goldman Sachs Group by 1.2% during the 1st 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 last quarter. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth about $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 purchasing an additional 120,272 shares during the last quarter. Finally, Amundi lifted its position in shares of The Goldman Sachs Group by 13.6% during the 1st quarter. Amundi now owns 1,891,260 shares of the investment management company's stock worth $967,193,000 after purchasing an additional 225,993 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Trading Down 0.5%

GS stock opened at $759.22 on Wednesday. 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 cap of $229.83 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.41 and a beta of 1.42. The business's 50 day moving average is $766.45 and its 200-day moving average is $674.16. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The firm had revenue of $11.33 billion for the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter in the prior year, the business earned $8.40 EPS. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. The ex-dividend date of this dividend is Tuesday, December 2nd. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The Goldman Sachs Group's dividend payout ratio is 32.50%.

Insiders Place Their Bets

In other news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on 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 $13,469,493.60. This represents a 28.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction on 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 trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,707 shares of company stock worth $19,094,804. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GS shares. JPMorgan Chase & Co. reissued a "neutral" rating and set a $750.00 price objective (up previously from $625.00) on shares of The Goldman Sachs Group in a research report on Tuesday. Royal Bank Of Canada reissued a "neutral" rating and set a $843.00 price objective on shares of The Goldman Sachs Group in a research report on Tuesday, October 14th. Morgan Stanley cut their price objective on The Goldman Sachs Group from $854.00 to $828.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 15th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, JMP Securities restated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Three equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $779.50.

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.

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