The Goldman Sachs Group, Inc. $GS Shares Sold by FCG Investment Co

Key Points

• FCG Investment Co reduced its stake in The Goldman Sachs Group by 18.5%, owning 2,195 shares valued at approximately $1.55 million after selling 499 shares.
• The Goldman Sachs Group recently reported quarterly earnings of $10.91 per share, exceeding analysts' expectations, with a revenue of $14.58 billion.
• The company also increased its quarterly dividend to $4.00 per share, up from $3.00, indicating a strong commitment to returning value to shareholders.

FCG Investment Co trimmed its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 18.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,195 shares of the investment management company's stock after selling 499 shares during the period. The Goldman Sachs Group comprises about 0.8% of FCG Investment Co's holdings, making the stock its 28th biggest holding. FCG Investment Co's holdings in The Goldman Sachs Group were worth $1,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of GS. Brighton Jones LLC lifted its holdings in shares of The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after purchasing an additional 508 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after purchasing an additional 58 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of The Goldman Sachs Group by 4.5% during the fourth quarter. Two Sigma Investments LP now owns 6,513 shares of the investment management company's stock valued at $3,729,000 after purchasing an additional 280 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at $48,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at $31,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Up 0.3%

GS opened at $794.75 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The business has a 50-day moving average of $745.43 and a 200-day moving average of $644.54. 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 company has a market capitalization of $240.59 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41.

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 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period last year, the business earned $8.62 EPS. The business's quarterly revenue was up 14.5% on a year-over-year basis. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company 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 of this dividend is Friday, August 29th. 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 (DPR) is 35.26%.

Analyst Ratings Changes

GS has been the subject of several analyst reports. JMP Securities reaffirmed a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday, July 14th. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Keefe, Bruyette & Woods upped their price target on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. HSBC reissued a "reduce" rating and set a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Finally, Morgan Stanley upped their price target on The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $665.00.

Insider Transactions at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,000 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the transaction, the chief operating officer owned 106,268 shares of the company's stock, valued at approximately $79,755,196.68. This represents a 7.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock valued at $28,111,828 over the last 90 days. Company 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.

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