Redwood Investment Management LLC Purchases 354 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Redwood Investment Management LLC increased its position in The Goldman Sachs Group by 14.2%, acquiring an additional 354 shares during the first quarter, bringing its total holdings to 2,846 shares worth approximately $1.55 million.
• The Goldman Sachs Group reported quarterly earnings of $10.91 per share, surpassing analysts' expectations and showing a year-over-year revenue increase of 14.5%, totaling $14.58 billion.
• The firm announced a quarterly dividend increase to $4.00 per share, effective September 29th, up from the previous quarterly dividend of $3.00, representing an annual yield of 2.1%.

Redwood Investment Management LLC increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 14.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,846 shares of the investment management company's stock after acquiring an additional 354 shares during the quarter. Redwood Investment Management LLC's holdings in The Goldman Sachs Group were worth $1,555,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GS. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $25,000. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter worth $29,000. Godsey & Gibb Inc. grew its holdings 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 valued at $30,000 after buying an additional 34 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at $31,000. Finally, Lowe Wealth Advisors LLC raised its position in 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 valued at $35,000 after buying an additional 49 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Down 0.8%

Shares of GS traded down $5.74 during mid-day trading on Friday, hitting $745.48. 1,466,878 shares of the company's stock were exchanged, compared to its average volume of 1,664,655. The stock has a market cap of $225.67 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 1.60 and a beta of 1.38. The firm has a fifty day moving average of $716.96 and a two-hundred day moving average of $624.17. 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, Inc. has a twelve month low of $439.38 and a twelve month high of $753.33.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations 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 period in the prior year, the company posted $8.62 earnings per share. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.1%. The Goldman Sachs Group's dividend payout ratio is currently 26.44%.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a research report on Thursday, July 17th. HSBC reissued a "reduce" rating and issued a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. JMP Securities restated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Zacks Research upgraded shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Finally, Wells Fargo & Company increased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of "Hold" and an average target price of $660.00.

Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group 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 transaction, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company's stock.

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.