TIAA Trust National Association Has $8.64 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Key Points

• TIAA Trust National Association reduced its position in The Goldman Sachs Group by 62.3%, selling 26,156 shares and retaining 15,823 shares valued at approximately $8.64 million.
• Other notable institutions, including GAMMA Investing LLC and FMR LLC, made significant increases in their holdings, with GAMMA investing increasing its stake by an astonishing 63,864.7%.
• Insiders, including CEO David M. Solomon and CFO Denis P. Coleman, sold shares recently, with Solomon offloading 6,608 shares valued at about $4.71 million.

TIAA Trust National Association lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 62.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,823 shares of the investment management company's stock after selling 26,156 shares during the period. TIAA Trust National Association's holdings in The Goldman Sachs Group were worth $8,644,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. American Capital Advisory LLC bought a new stake in The Goldman Sachs Group during the first quarter worth about $29,000. Godsey & Gibb Inc. grew its stake in shares of The Goldman Sachs Group by 170.0% during the first 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 during the last quarter. Transce3nd LLC bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $31,000. Mascagni Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $31,000. Finally, Lowe Wealth Advisors LLC boosted its stake in The Goldman Sachs Group by 326.7% in the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock valued at $35,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Activity

In related news, CFO Denis P. Coleman sold 7,463 shares of The Goldman Sachs Group stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the sale, the chief financial officer owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction dated 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 sale, the executive vice president directly owned 65,761 shares of the company's stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,079 shares of company stock valued at $14,423,221 in the last quarter. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Down 0.6%

The Goldman Sachs Group stock traded down $4.70 during mid-day trading on Tuesday, reaching $721.33. The company's stock had a trading volume of 282,378 shares, compared to its average volume of 2,603,592. The business's 50 day simple moving average is $672.36 and its 200 day simple moving average is $611.57. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $737.88. The company has a market capitalization of $221.33 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.38. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12.

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 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 13.84%. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter last year, the firm posted $8.62 EPS. The company's quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed 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 boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.2%. The Goldman Sachs Group's payout ratio is 26.44%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JMP Securities reaffirmed a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Morgan Stanley increased 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. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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.