The Goldman Sachs Group, Inc. $GS Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its holdings in The Goldman Sachs Group by 3.4% in the second quarter, holding approximately $124.8 million worth of shares after selling 6,256 shares.
• CEO David M. Solomon and COO John E. Waldron sold significant amounts of their shares, with Solomon selling 6,608 shares for nearly $4.7 million and Waldron selling 9,244 shares for around $6.9 million.
• The Goldman Sachs Group recently announced an increase in its quarterly dividend to $4.00, up from the previous $3.00, reflecting an annual yield of 2.1%.

US Bancorp DE lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,297 shares of the investment management company's stock after selling 6,256 shares during the period. US Bancorp DE owned 0.06% of The Goldman Sachs Group worth $124,775,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Winthrop Advisory Group LLC grew its position in shares of The Goldman Sachs Group by 3.4% in the second quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company's stock valued at $303,000 after purchasing an additional 14 shares during the last quarter. Mechanics Financial Corp grew its position in shares of The Goldman Sachs Group by 5.8% in the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company's stock valued at $208,000 after purchasing an additional 16 shares during the last quarter. Ridgewood Investments LLC grew its position in shares of The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after purchasing an additional 17 shares during the last quarter. Bank of Stockton grew its position in shares of The Goldman Sachs Group by 0.7% in the second quarter. Bank of Stockton now owns 2,485 shares of the investment management company's stock valued at $1,759,000 after purchasing an additional 17 shares during the last quarter. Finally, Western Financial Corp CA boosted its position in The Goldman Sachs Group by 0.5% during the second quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company's stock worth $2,546,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John E. Waldron sold 9,244 shares of the firm's 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 completion of the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $777.49 on Thursday. 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 company has a market cap of $235.36 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.49 and a beta of 1.42. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The firm's 50 day moving average is $758.55 and its two-hundred day moving average is $659.72.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $13.53 billion. During the same quarter last year, the firm posted $8.62 EPS. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a $4.00 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is 35.26%.

Analyst Ratings Changes

GS has been the topic of a number of analyst reports. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. BMO Capital Markets initiated coverage on shares of The Goldman Sachs Group in a research report on Friday, October 3rd. They set a "market perform" rating and a $785.00 target price on the stock. Evercore ISI raised their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. Finally, Citigroup increased their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $727.31.

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.

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.