The Goldman Sachs Group, Inc. $GS Shares Sold by Ilmarinen Mutual Pension Insurance Co

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in The Goldman Sachs Group by 8.4%, now holding 33,159 shares worth approximately $18.11 million.
• The company recently announced a quarterly dividend increase from $3.00 to $4.00 per share, representing an annualized payout of $16.00 with a 2.1% yield.
• Goldman Sachs reported $10.91 EPS for the last quarter, surpassing estimates of $9.82, along with a 14.5% year-over-year revenue increase to $14.58 billion.

Ilmarinen Mutual Pension Insurance Co lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 8.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 33,159 shares of the investment management company's stock after selling 3,050 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in The Goldman Sachs Group were worth $18,114,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Advisory Alpha LLC increased its stake in shares of The Goldman Sachs Group by 4.7% in the 1st quarter. Advisory Alpha LLC now owns 512 shares of the investment management company's stock valued at $280,000 after purchasing an additional 23 shares in the last quarter. Trinity Financial Advisors LLC increased its stake in shares of The Goldman Sachs Group by 9.0% in the 1st quarter. Trinity Financial Advisors LLC now owns 644 shares of the investment management company's stock valued at $329,000 after purchasing an additional 53 shares in the last quarter. Game Plan Financial Advisors LLC increased its stake in shares of The Goldman Sachs Group by 20.3% in the 1st quarter. Game Plan Financial Advisors LLC now owns 6,072 shares of the investment management company's stock valued at $3,317,000 after purchasing an additional 1,025 shares in the last quarter. SCS Capital Management LLC purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $8,788,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of The Goldman Sachs Group by 6.1% in 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 valued at $1,138,527,000 after purchasing an additional 120,272 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company's stock.

Insiders Place Their Bets

In related news, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John E. Waldron sold 9,244 shares of the company's stock in a transaction that occurred 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 owned 115,268 shares in the company, valued at $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,323 shares of company stock valued at $28,111,828. Insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GS. Morgan Stanley lifted 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 note on Thursday, July 17th. Hsbc Global Res lowered The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. HSBC reiterated a "reduce" rating and set a $627.00 price objective (up from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Citizens Jmp reiterated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Price Performance

Shares of GS stock traded down $3.86 during trading hours on Friday, reaching $780.87. The company had a trading volume of 1,099,323 shares, compared to its average volume of 1,620,895. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a fifty day moving average of $728.85 and a 200-day moving average of $631.58. The company has a market capitalization of $236.39 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.65 and a beta of 1.41. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $793.17.

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 (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business's revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $8.62 earnings per share. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current 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 issued a $4.00 dividend. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's payout ratio is currently 35.26%.

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.