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Benjamin Edwards Inc. Cuts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

The Goldman Sachs Group logo with Finance background

Key Points

  • Benjamin Edwards Inc. reduced its stake in The Goldman Sachs Group by 17.7% during the first quarter, owning 6,597 shares after selling 1,423 shares.
  • The Goldman Sachs Group announced a $4.00 quarterly dividend, an increase from its previous dividend of $3.00, reflecting a 2.2% yield.
  • The company reported earnings of $10.91 per share, surpassing expectations and showing a 14.5% revenue increase compared to the same quarter last year.
  • Want stock alerts on The Goldman Sachs Group? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Benjamin Edwards Inc. cut its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,597 shares of the investment management company's stock after selling 1,423 shares during the period. Benjamin Edwards Inc.'s holdings in The Goldman Sachs Group were worth $3,604,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GS. King Wealth Management Group raised its stake in shares of The Goldman Sachs Group by 1.8% in the first quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after buying an additional 19 shares during the period. Wynn Capital LLC raised its stake in shares of The Goldman Sachs Group by 0.3% in the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after buying an additional 20 shares during the period. 1900 Wealth Management LLC raised its stake in shares of The Goldman Sachs Group by 2.6% in the first quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after buying an additional 20 shares during the period. World Equity Group Inc. grew its position in shares of The Goldman Sachs Group by 0.9% during the first quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock worth $1,273,000 after purchasing an additional 20 shares in the last quarter. Finally, Register Financial Advisors LLC grew its position in shares of The Goldman Sachs Group by 2.5% during the first quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock worth $440,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock traded up $2.95 on Thursday, reaching $747.64. 1,364,079 shares of the stock were exchanged, compared to its average volume of 2,566,246. 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 Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $748.91. The firm has a market capitalization of $226.32 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.58 and a beta of 1.38. The business has a 50 day moving average price of $689.63 and a two-hundred day moving average price of $616.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%. The firm had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the company posted $8.62 earnings per share. The company's revenue was up 14.5% compared to the same quarter last year. Analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio (DPR) is 26.44%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. HSBC reaffirmed 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. 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. Wells Fargo & Company raised their price target on The Goldman Sachs Group from $650.00 to $785.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Morgan Stanley raised 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. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus price target of $660.00.

View Our Latest Report on GS

Insider Activity at The Goldman Sachs Group

In related 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 stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 6,608 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 $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 represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,079 shares of company stock worth $14,423,221. 0.55% of the stock is owned by corporate insiders.

About The Goldman Sachs Group

(Free Report)

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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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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