The Goldman Sachs Group, Inc. $GS Shares Sold by Greenleaf Trust

Key Points

• Greenleaf Trust has reduced its stake in The Goldman Sachs Group, Inc. by 5.1%, now holding 10,249 shares worth approximately $7.25 million.
• The Goldman Sachs Group recently increased its quarterly dividend to $4.00 per share, up from $3.00, representing a 2.0% dividend yield.
• In its latest earnings report, The Goldman Sachs Group reported $10.91 EPS, exceeding estimates, with quarterly revenue increasing by 14.5% year-over-year.

Greenleaf Trust reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,249 shares of the investment management company's stock after selling 546 shares during the period. Greenleaf Trust's holdings in The Goldman Sachs Group were worth $7,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GS. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group in the first quarter worth approximately $25,000. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at $29,000. Godsey & Gibb Inc. boosted its stake in 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. Ridgewood Investments LLC boosted its stake in The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after buying an additional 17 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in The Goldman Sachs Group by 46.9% during the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after acquiring an additional 23 shares during the period. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $804.07 on Tuesday. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. 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 stock has a market cap of $243.41 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41. The business has a fifty day simple moving average of $749.28 and a 200-day simple moving average of $649.87.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the business earned $8.62 EPS. The business's revenue for the quarter was up 14.5% on a year-over-year basis. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were issued a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 29th. The Goldman Sachs Group's dividend payout ratio is 35.26%.

Insider Activity at The Goldman Sachs Group

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 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 owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the sale, the chief operating officer directly owned 115,268 shares of the company's stock, valued at $86,463,679.48. This trade represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,323 shares of company stock valued at $28,111,828. Company insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a report on Thursday, July 17th. Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. 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. JMP Securities reaffirmed a "market perform" rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Morgan Stanley raised their price objective on The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an "equal weight" rating in a research note on Monday. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $674.93.

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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