The Goldman Sachs Group, Inc. $GS Shares Sold by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in The Goldman Sachs Group by 53.4%, selling 131,235 shares, leaving them with 114,296 shares valued at approximately $62.4 million.
• The Goldman Sachs Group reported $10.91 earnings per share for the last quarter, exceeding analyst estimates, and achieved revenue growth of 14.5% year-over-year, totaling $14.58 billion.
• The firm will increase its quarterly dividend from $3.00 to $4.00, resulting in an annualized dividend of $16.00, with a dividend yield of 2.2%.

Hotchkis & Wiley Capital Management LLC lowered its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 53.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,296 shares of the investment management company's stock after selling 131,235 shares during the period. Hotchkis & Wiley Capital Management LLC's holdings in The Goldman Sachs Group were worth $62,439,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GS. GAMMA Investing LLC increased its position in shares of The Goldman Sachs Group by 63,864.7% in the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after acquiring an additional 3,970,467 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth approximately $1,766,238,000. Castlekeep Investment Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $944,334,000. Nuveen LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth approximately $897,185,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of The Goldman Sachs Group by 214.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company's stock worth $741,018,000 after acquiring an additional 882,099 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Up 3.6%

Shares of The Goldman Sachs Group stock opened at $741.8440 on Friday. The firm has a market cap of $224.57 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.52 and a beta of 1.38. The stock has a 50-day simple moving average of $705.56 and a 200-day simple moving average of $620.87. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $749.05. 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 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 for the quarter, beating the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $8.62 earnings per share. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $4.00 dividend. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 35.26%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the sale, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. This represents a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,079 shares of company stock valued at $14,423,221. Insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GS. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Wells Fargo & Company lifted 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. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Finally, Wall Street Zen raised shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.

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