The Goldman Sachs Group, Inc. $GS Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC reduced its stake in The Goldman Sachs Group by 26.0%, selling 4,683 shares and now holding a total of 13,326 shares valued at approximately $7.28 million.
• The Goldman Sachs Group's stock increased by 3.6%, trading at $741.84, with a reported EPS of $10.91 for the recent quarter, surpassing estimates of $9.82.
• The company declared a quarterly dividend of $4.00 per share, a notable increase from its previous dividend of $3.00, marking a dividend yield of 2.2%.

SVB Wealth LLC trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 26.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,326 shares of the investment management company's stock after selling 4,683 shares during the period. SVB Wealth LLC's holdings in The Goldman Sachs Group were worth $7,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of The Goldman Sachs Group by 63,864.7% during 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 buying an additional 3,970,467 shares during the last quarter. Northern Trust Corp increased 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 purchasing an additional 40,125 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in The Goldman Sachs Group in the 1st quarter valued at $1,766,238,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 valued at $1,124,532,000 after purchasing an additional 256,204 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $944,334,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 3.6%

Shares of The Goldman Sachs Group stock opened at $741.8440 on Friday. 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, Inc. has a 1-year low of $439.38 and a 1-year high of $749.05. The business has a 50-day moving average of $705.56 and a 200-day moving average of $620.87. The company has a market capitalization of $224.57 billion, a PE ratio of 16.35, a P/E/G ratio of 1.52 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter last year, the company posted $8.62 earnings per share. The company's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities 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 business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group's dividend payout ratio is 35.26%.

Insider Transactions at The Goldman Sachs Group

In other news, 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 transaction of $4,706,944.48. Following the transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the 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. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,079 shares of company stock valued at $14,423,221. Insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on GS shares. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. JMP Securities restated a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. HSBC restated a "reduce" rating and set a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Citigroup raised their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. One research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of "Hold" and an average target price 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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