The Goldman Sachs Group, Inc. $GS Shares Sold by Mirabaud & Cie SA

Key Points

• Mirabaud & Cie SA reduced its stake in The Goldman Sachs Group by 27.5%, owning 3,430 shares valued at approximately $2.43 million.
• The Goldman Sachs Group reported a Q2 earnings per share (EPS) of $10.91, exceeding expectations by $1.09, with revenue of $14.58 billion for the quarter.
• The company raised its quarterly dividend from $3.00 to $4.00, reflecting an annualized yield of 2.0% and a payout ratio of 35.26%.

Mirabaud & Cie SA cut its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 27.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,430 shares of the investment management company's stock after selling 1,301 shares during the period. The Goldman Sachs Group makes up about 0.8% of Mirabaud & Cie SA's holdings, making the stock its 27th biggest position. Mirabaud & Cie SA's holdings in The Goldman Sachs Group were worth $2,428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GS. GAMMA Investing LLC increased its position in The Goldman Sachs Group by 63,864.7% in the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after purchasing an additional 3,970,467 shares during the last quarter. Northern Trust Corp raised its holdings in The Goldman Sachs Group by 1.2% in the 1st quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company's stock valued at $1,820,677,000 after acquiring an additional 40,125 shares in the last quarter. International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group in the 1st quarter valued at approximately $1,766,238,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 acquiring an additional 120,272 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The Goldman Sachs Group by 15.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,963,836 shares of the investment management company's stock worth $1,124,532,000 after buying an additional 256,204 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the transaction, the executive vice president owned 65,761 shares of the company's stock, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a filing 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 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 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 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price target on 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. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Morgan Stanley lifted their target price on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Wells Fargo & Company lifted their target price on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen raised The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $660.00.

The Goldman Sachs Group Trading Down 0.5%

Shares of GS stock opened at $780.87 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The stock has a market cap of $236.38 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.41. The stock has a 50 day simple moving average of $728.85 and a 200 day simple moving average of $631.75. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $793.17.

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 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the business earned $8.62 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. On average, research analysts predict 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, August 29th. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is 35.26%.

The Goldman Sachs Group 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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