Forsta AP Fonden Has $43.27 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• Forsta AP Fonden reduced its stake in The Goldman Sachs Group by 8.9%, owning 79,200 shares valued at approximately $43.3 million after selling 7,700 shares in the first quarter.
• The Goldman Sachs Group reported $10.91 earnings per share for the last quarter, exceeding analysts' estimates, with revenues of $14.58 billion, up 14.5% from the previous year.
• The company announced a quarterly dividend increase to $4.00 per share, reflecting a dividend yield of 2.2%, payable on September 29th.

Forsta AP Fonden decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,200 shares of the investment management company's stock after selling 7,700 shares during the period. Forsta AP Fonden's holdings in The Goldman Sachs Group were worth $43,266,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GS. American Capital Advisory LLC bought a new position in shares of The Goldman Sachs Group during the first quarter worth about $29,000. Godsey & Gibb Inc. boosted its position in shares of The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Transce3nd LLC bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at about $31,000. Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group during the 4th quarter valued at about $31,000. Finally, Lowe Wealth Advisors LLC boosted its position in shares of The Goldman Sachs Group by 326.7% during the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 71.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Morgan Stanley raised their target price on shares of 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. Citigroup raised their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Finally, Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Stock Up 0.3%

GS traded up $2.02 during midday trading on Friday, hitting $721.76. 1,275,362 shares of the company's stock traded hands, compared to its average volume of 2,022,910. The company has a market cap of $218.49 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.53 and a beta of 1.38. The stock's fifty day simple moving average is $681.52 and its 200-day simple moving average is $614.22. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.68. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $737.88.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company's revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $8.62 earnings per share. As a group, equities 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 company 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 $4.00 dividend. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is 26.44%.

Insider Activity

In other news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock valued at $14,423,221 over the last 90 days. 0.55% of the stock is currently owned by company insiders.

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.